Revenues & expenses of Azerbaijan’s NBCO decrease
Baku, Azerbaijan, Aug. 23
By Eldar Janashvili - Trend:
Azerbaijan’s Non-Bank Credit Organization (NBCO) TCF OJSC ended 2018 with a net loss of 167,000 manats, while 2017 was completed with a loss of 331,000 manats, Trend reports citing an audit report of the organization.
During the year, the loss of the organization decreased almost twice.
According to the audit report, the organization’s net interest income doubled and amounted to 95,000 manats and was formed through the interest income of 319,800 manats (a decrease of 45 percent for the year) and interest expenses of 224,800 manats (a decrease of 41 percent for the year).
Non-interest income at the end of the reporting year decreased almost three times and amounted to 9,000 manats. Non-interest expenses amounted to 271,500 manats and decreased twice. Thus, operating revenue for the year amounted to 167,000 manats and also decreased twice for the year.
($1= 1.7 manats on Aug. 23)
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