Baku, Azerbaijan, July 26
By Eldar Janashvili – Trend:
Azerbaijan Industry Bank (ASB) completed the first half of 2019 with a net profit of 2.75 million manats, while the first half of the previous year was completed with a profit of 45.86 million manats, Trend reports referring to the bank’s financial report.
For the year, the bank reduced the profit by 94 percent.
According to the bank’s report, net income was formed through interest income worth 31.37 million manats (a decline of 3.7 percent for the year) and non-interest 2.7 million manats (a decline of 23.6 percent).
The interest expenses at the end of June 2019 amounted to 7.33 million manats (a decline of 1.2 percent), non-interest expenses - 14.86 million manats (a decline of 45.1 percent).
Operating income for the year decreased by 32 percent and amounted to 11.88 million manats compared to 17.57 million manats for the same period of 2018.