Azerbaijan’s MCB Leasing increases profit by almost 26 times
Baku, Azerbaijan, Sept. 18
By Eldar Janashvili - Trend:
Azerbaijani leasing company MCB Leasing ended 2018 with a net annual profit of 634,500 manats, while 2017 was completed with a profit of 24,700 manats, Trend reports referring to the company’s financial report.
According to the financial report, the company's profit increased by almost 26 times over the year.
MCB Leasing's net interest income amounted to 1.249 million manats (increase of 12 percent), and was formed from interest income of 1.753 million manats (increase of 9 percent) and interest expenses of 504,704 manats (increase of 1.5 percent).
The volume of non-interest income amounted to 1.534 million manats, having increased by almost 2.5 times. Non-interest expenses amounted to 681,416 manats (increase of 4.3 percent). As such, the company's operating revenue before income tax amounted to 852,700 manats compared to a loss of 4,200 manats in 2017. Income tax amounted to 178,900 manats.
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