Baku, Azerbaijan, Aug. 23
By Eldar Janashvili - Trend:
Azerbaijan’s Non-Bank Credit Organization (NBCO) “Viator Mikrokredit Azerbaycan” (VMA) completed 2018 with a net profit of 531,000 manats, while 2017 was completed with a loss of 1.332 million manats, Trend reports citing an audit report of the organization.
During the year, the profit of the organization increased by 1.865 million manats.
According to the audit report, the organization’s net interest income after adding target reserves amounted to 2.131 million manats and was generated from interest income in the amount of 1.44 million manats (a year-on-year reduction of 20.4 percent) and interest expenses by 19,600 manats (a year-on-year reduction of 12 percent).
Non-interest income at the end of the reporting year decreased by 11.9 percent and amounted to 25,900 manats. Non-interest expenses amounted to 271,500 manats, decreasing by 12.5 percent. Thus, operating revenue for the year amounted to 660,700 manats, increasing by almost 2 million manats for the year.
($1= 1.7 manats on Aug. 23)
---
Follow the author on Twitter: @eldarjanashvili