Baku, Azerbaijan, July 22
By Fidan Babayeva - Trend:
Azerbaijan’s ASB Bank OJSC completed the first half of 2020 with the net profit of 3.3 million manat ($1.9 million), which is 1.6 times less compared to 1H2019, Trend reports referring to the bank’s financial statement.
According to the statement, the profit was driven by interest expenses worth 7.7 million manat ($4.5 million), and non-interest expenses of 2.7 million manat or $1.5 million (down 2.4 times).
As of June 30, 2020, interest incomes of the bank amounted to 8.3 million manat or $4.8 million (growth of 19.3 percent), and non-interest incomes – 7.1 million manat or $4.1 million (up 24.5 percent).
The bank’s operating profit dropped by 2.02 times year-on-year compared to the same period in 2019, standing at 3.4 million manat ($2 million).
($1 = 1.7 manat on July 22)
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