BAKU, Azerbaijan, Jan. 28
By Eldar Janashvili - Trend:
PASHA Bank, Azerbaijan’s leading corporate bank, completed last year with a net profit of 65 million manat ($38.2 million), while at the end of 2018, the profit amounted to 77 million manat ($45.2 million), Trend reports with reference to the bank’s financial report.
On an annualized basis, the bank’s profit decreased by 15.6 percent, according to the report.
The bank’s net interest income amounted to 155.4 million manat ($91.4 million, or a decline of 10.7 percent) and was formed through interest income in the amount of 196.2 million manat (annual growth of 13.1 percent) and interest expenses of 38.8 million manat ($115.4 million, or a decrease by 11.7 percent)
PASHA Bank’s operating profit amounted to 107.1 million manat ($63 million) in 2019 compared to an operating loss of 46.2 million manat ($27.1 million) in 2018. Operating profit was generated through non-interest income of the bank, which amounted to 76.6 million manat ($45 million, or an increase of 2.3 times over the year), and non-interest expenses, which amounted to 124.9 million manat ($73.5 million at the end of December 2019, or an increase of 57.4 percent).
The volume of dividends declared in 2019 by PASHA Bank amounted to 45.2 million manat ($26.6 million).
($1= 1.7 manat on Jan. 28)