Baku, Azerbaijan, Aug. 19
By Eldar Janashvili - Trend:
Azerbaijan’s Merkuri non-bank credit organization (NBCO) ended 2018 with a profit of 64,262 manats, while 2017 was completed with a loss of 7,154 manats, Trend reports referring to the organization’s audit report.
According to the audit report, the NBCO’s net interest income amounted to 645,400 manats (growth for the year at 20 percent) and was formed from interest income in the amount of 1.062 million manats (growth for the year at 12 percent) and interest expenses by 417,500 manats (an increase by 1.2 percent over the year).
Non-interest income increased by 62 percent at the end of the reporting year and amounted to 208,100 manats. Non-interest expenses amounted to 786,700 manats (an increase of 18.4 percent). As such, operating revenue for the year amounted to 786,700 manats, having increased by almost 80 percent over the year.
In the NBCO’s balance sheet, the volume of total assets amounted to 3.493 million manats, having increased by a quarter compared to the previous year. The main share of assets (89.5 percent) was comprised of client loans at 3.125 million manats (an increase by 25.8 percent over the year). The volume of cash and cash equivalents amounted to 128,000 manats, having increased by 6 percent.
The total volume of liabilities amounted to 2.654 million manats, 32.2 percent more than in 2017. The main share of liabilities (56.5 percent) was comprised of issued debt securities. Their volume, as a year earlier, amounted to 1.5 million manats.
The total capital of the NBCO increased by 8.3 percent to 838,400 manats, mainly due to an increase in retained earnings by 64.262 million manats.
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