BAKU, Azerbaijan, April 29
By Eldar Janashvili - Trend:
Azerbaijan’s UniBank OJSC completed the first quarter of 2020 with a profit of 6.3 million manat ($3.7 million), while in the same period last year it incurred a loss of 8 million manat ($4.7 million), Trend reports referring to the bank’s financial report.
The bank earned over 14.3 million manat ($8.4 million) on an annualized basis.
Net interest income amounted to 15 million manat ($8.8 million), showing an increase of 22.5 percent, and was formed through the interest income worth 22.2 million manat ($13 million), which increased by 10.5 percent, and interest expenses worth 7.2 million manat ($4.2 million), a decrease of 8.4 percent, said the report.
The bank’s non-interest income amounted to 6.1 million manat ($3.5 million), decreasing by 19.4 percent over the year.
The non-interest expenses amounted to 17.3 million manat ($10.1 million), with an increase of 18.9 percent.
The operating profit of the bank amounted to 8.8 million manat ($5.1 million), of which 2.5 million manat ($1.4 million) was spent on reserves, while the bank allocated 13.3 million manat ($7.8 million) for reserves in the first quarter of 2019. Accordingly, the profit amounted to 6.3 million manat ($3.7 million).
(1 USD = 1.7 AZN on April 29)
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