Baku, Azerbaijan, Aug. 27
By Eldar Janashvili - Trend:
Azerbaijan’s Kepez non-bank credit organization (NBCO) completed 2018 with a net profit of 115,900 manats, while 2017 was completed with a loss of 37,500 manats, Trend reports referring to the organization’s audit report.
According to the audit report for 2018, the net interest income of NBCO in 2018 increased 6.3 times (compared to 2017) from 48,700 manats to 307,600 manats. Operating income, in turn, increased 7.5 times from 34,700 manats to 260,700 manats.
In the organization’s balance sheet, assets increased 5.3 times and reached 1.414 million manats. The loan portfolio increased 6.7 times to 1.338 million manats and amounted to 94.5 percent of all company assets. The organization’s liabilities amounted to 1.32 million manats, while its total capital grew almost 1.5 times and amounted to 381,600 manats, mainly due to retained earnings in the amount of 81,600 manats.
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