BAKU, Azerbaijan, July 29
By Eldar Janashvili – Trend:
Azerbaijan's big corporate Azer Turk Bank completed the first half of 2020 with the net profit worth 26,000 manat ($15,294), while at the end of 2019 the profit amounted to 774,000 manat ($455,294), Trend reports citing the bank's financial report.
The bank's profit decreased by more than 25 times during the first half of 2020.
In accordance with the bank’s report, net interest income amounted to 7.3 million manat that’s $4.3 million (an increase of 4.3 percent) and was formed through the interest income in the amount of 10.4 million manat that’s $6.1 million (a decrease by 3.2 percent since the beginning of the year) and interest expenses worth 3.06 million manat that’s $1.8 million (a decrease by 17.3 percent).
The bank's non-interest income amounted to 4.8 million manat that’s $2.8 million (a decrease by less than 0.1 percent since the beginning of the year).
The non-interest expenses at the end of June 2020 amounted to 11.6 million manat that’s $6.8 million (an increase of 3.6 percent).
General, administrative and other expenses amounted to 11.5 million manat ($6.8 million), an increase of 4.5 percent since the beginning of the year.
(1 USD = 1.7 AZN on July 29)
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