BAKU, Azerbaijan, July 29
By Eldar Janashvili – Trend:
The Azerbaijani corporate Yapi Kredi Bank completed the first half of 2020 with the net profit worth 471,000 manat ($277,058), while at the end of 2019, profit amounted to 3.4 million manat ($2 million), Trend reports citing the bank's financial report.
The bank's profit decreased by almost seven times in the first half of 2020.
In accordance with the bank report, net interest income amounted to 13.4 million manat that’s $7.9 million (a decrease by 11.3 percent) and was formed through the interest income in the amount of 14.4 million manat that’s $8.5 million (a decrease by 12.6 percent since the beginning of the year) and interest expenses worth 0.9 million manat that’s $0.5 million (a 35 percent decrease).
The bank’s non-interest income amounted to 6.3 million manat that’s $3.7 million (a decrease by 13.7 percent since the beginning of the year). The non-interest expenses at the end of June 2020 amounted to 13.3 million manat that’s $7.8 million (an increase of 7.6 percent).
The expenses for the creation of the special reserves to compensate for possible losses on assets amounted to 5.7 million manat ($3.3 million), an increase of 62.8 percent compared to 2019.
General, administrative and other expenses amounted to 7.3 million manat ($4.3 million), decreasing by almost 11 percent since the beginning of the year.
The bank’s income tax for the first half of 2020 amounted to 0.3 million manat ($0.2 million), which is three times less than in the same period of 2019.
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