Baku, Azerbaijan, June 30
By Eldar Janashvili - Trend:
Azerbaijan’s PASHA Kapital Investment Company, a leader of exchange market in the country, ended 2019 with a profit of 842,500 manat ($495,590) compared to 506,300 manat ($297,820) in 2018, Trend reports referring to the company’s audit report.
Thus, the organization’s profit increased by two thirds in the reporting year.
According to the audit report, the net interest profit of the company made up 254,000 manat or $149,410 (a growth of 4.5 times for the year) and was formed at the expense of interest income in the amount of 499.5 million manat or $293.8 million (an increase of 8.9 times for the year), and interest expense of 245.5 million manat or $144.4 million. Reserves for depreciated assets with interests made up 536,760 manat ($315,740). Non-interest income at the end of the reporting year increased by 64 percent and amounted to 132,700 manat ($78,060). Non-interest expenses amounted to over 429,000 manat ($252,350), having increased by 2.4 times year-on-year.
Thus, the operating profit for the year amounted to 1.07 million manat ($630,000) versus 631,340 manat ($370,380) in 2018, while the profit tax made up 228,147 manat ($134,200).
(1 USD = 1.7 AZN on June 30)
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