Baku, Azerbaijan, Aug. 17
By Eldar Janashvili - Trend:
Azerbaijan's Credit Implementing Agency non-bank credit organization (NBCO) completed 2018 with a profit of 7,600 manats, while 2017 was completed with a profit of 5,900 manats, Trend reports referring to the organization’s audited report.
According to the organization’s audited report, the net interest income of the agency amounted to 120,800 manats and was generated from interest income in the amount of 44,400 manats, the volume of which dropped by 3.4 times during the reporting period, and deduction from a special reserve for compensation for possible losses on assets in the amount of 76,400 manats.
Non-interest income over the past year amounted to 103,800 manats (an increase by 9 times), while expenses amounted to 146,000 manats (a decrease of 13 percent). Operating revenue for the year amounted to 78,600 manats.
In the NBCO’s balance sheet, the volume of total assets amounted to 2.6 million manats, having increased by 8 percent compared to the previous year. The main share of assets (72.7 percent) consisted of client loans at 1.9 million manats (a 4.1-percent decrease over the year). The total volume of obligations amounted to 292,600 manats, i.e. almost 3 times more than in 2017. The NBCO’s capital has not changed much and amounted to 2.33 million manats, and its retained earnings amounted to 2 million manats
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