Baku, Azerbaijan, Aug. 24
By Eldar Janashvili – Trend:
Azerbaijan’s non-bank credit organization (NBCO) FINCA Azerbaijan ended 2018 with a net profit of 142,000 manats, while 2017 was completed with a profit of 18.327 million manats, Trend reports with reference to the organization’s audit report.
For the year, the organization’s profit decreased by 129 times.
The organization’s net interest income was formed through adding target reserves and amounted to 4.473 million manats. The difference between the volume of interest income in the amount of 967,000 manats (a decrease of 7.4 times for the year) and interest expenses of 962,000 manats (a decrease of 5.3 times for the year) amounted to 5,000 manats or 0.1 percent of net interest income.
Non-interest income at the end of the reporting year decreased significantly and amounted to 34,000 manats compared to 30.394 million manats in the previous reporting period. Non-interest expenses amounted to 4.665 million manats, decreasing almost three times. Thus, the operating revenue for the year amounted to 158,000 manats, also significantly declining by 24 million manats for the year.
(1 USD = 1.7 AZN on Aug. 24)
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