Non-interest income of Azerbaijan's Xalq Bank increases

Finance Materials 6 March 2020 12:30 (UTC +04:00)

BAKU, Azerbaijan, March 6

By Eldar Janashvili – Trend:

As of end of January 2020, the net income of the big Azerbaijani corporate Xalq Bank has made up 3.3 million manat ($1.9 million) against 3 million manat ($1.7 million) in January 2019, Trend reports March 6 referring to the bank’s balance sheet.

The bank’ annual income has increased by 11 percent.

According to the report, the net interest income amounted to 7.4 million manat ($4.3 million) (growth by 5.8 percent), and was formed due to interest income worth 9.2 million manat ($5.4 million) (annual growth by 2.6 percent) and interest expenses worth 1.7 million manat ($1 million) (decrease by 9 percent).

The bank’s non-interest income amounted to 2.7 million manat ($1.5 million) (an increase per annum by almost a half). As of end of January 2020, non-interest expenses at the end of January 2020 amounted to 3.1 million manat ($1.8 million) (an increase of 26 percent).

The expenses on creating special reserves to reimburse potential losses for assets amounted to 3.1 million manat, an increase by almost 3 times compared to January 2019. After their deduction, operating income worth 7 million manat ($4.1 million) was formed, which has increased 1.5 times since the beginning of the year.


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