BAKU, Azerbaijan, April 28
By Eldar Janashvili - Trend:
Azerbaijan’s Bank Respublika completed the first quarter of 2020 with the profit worth 2.9 million manat ($1.7 million), while in the same period of last year this figure amounted to 731,000 manat ($430,000), Trend reports on April 28 referring to the bank’s financial report.
The bank’s profit almost quadrupled per annum.
In accordance with the report, net interest income amounted to 13,300 manat, that’s $7,823 (a 63 percent increase for the year) and was formed through the interest income worth 19.7 million manat, that’s $11.6 million (a 33.9 percent increase for the year) and interest expenses worth 6.7 million manat, that’s $3.9 million (a 0.2 percent decrease for the year).
The bank’s non-interest income amounted to 7.3 million manat ($4.3 million), increasing by a quarter per annum.
The non-interest expenses at the end of March 2020 amounted to 15.6 million manat that’s $9.2 million (a 35.4 percent increase).
The operating profit amounted to five million manat ($2.9 million), of which 2.1 million manat ($1.2 million) was spent on reserves, while the bank allocated 1.7 million manat ($1 million) for reserves in the first quarter of 2019. The profit amounted to 2.9 million manat ($1.7 million).
(1 USD = 1.7 AZN on April 28)
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