Azerbaijan's AtaBank ends 3Q2019 with profit
Baku, Azerbaijan, Oct. 19
By Eldar Janashvili - Trend:
Azerbaijan's AtaBank completed the third quarter of 2019 with a net profit of 22,000 manat ($12,941), Trend reports referring to the bank.
The bank has tripled its profit since the beginning of 2019.
According to the bank's financial report, net profit was generated from interest income of 24.856 million manat ($14.621 million), which indicates a 38.4 percent decrease compared to the same period of 2018 and non-interest income of 3.484 million manat ($2.049 million), which shows a decrease of 32.8 percent.
Interest expenses at the end of September 2019 amounted to 17.84 million manat ($10.494 million), having decreased by 28.7 percent compared to the same period of 2018, while non-interest expenses reached 15.47 million manat ($9.1 million), which is 41 percent less compared to the same period of 2018.
Operating loss amounted to 4.969 million manat ($2.933 million), having decreased by 14 percent compared to the same period of the last year (5.783 million manat or $3.402 million).
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