Net profit of Azerbaijan’s BTB Bank totals 4M manat
Baku, Azerbaijan, Oct. 18
Azerbaijan’s BTB Bank completed the period from January through September 2019 with a net profit of four million manat ($2.357 million), Trend reports referring to the bank’s press service Oct. 18.
Compared with the same period last year, the bank’s net profit increased by 1.817 million manat ($1.071 million), or 83 percent.
From January through September 2019, the assets of BTB Bank amounted to 311.957 million manat ($183.883 million), which is 3.03 percent more than for the corresponding period last year.
During the reporting period, a three-percent growth of deposits was recorded, and as a result, the portfolio of deposits increased to 119.549 million manat ($70.467 million).
Compared with the corresponding period last year, BTB Bank increased interest income by 2.121 million manat ($1.25 million) and it amounted to 16.25 million manat ($9.578 million), while non-interest income reached 4.608 million manat ($2.716 million).
Another positive indicator in the third quarter of 2019 is the growth in the number of bank customers by 24 percent.
BTB Bank, which constantly provides customers with favorable credit conditions, continued lending to its customers in the period from January through September 2019, increasing the loan portfolio by 23 percent and the total loan portfolio by 217.675 million manat ($128.308 million).
In line with the new development strategy, BTB Bank seeks to strengthen its market position by offering customers competitive products.
($1 = 1.7 manat on Oct. 18)