BAKU, Azerbaijan, Oct. 22
By Fidan Babayeva - Trend:
Azerbaijani Rabitabank’s net profit amounted to 3.84 million manat ($2.25 million) from January through September 2020, having decreased 1.5 times compared to the same period of 2020, Trend reports citing the bank's financial report.
The report said that the given indicator was equal to 7.62 million manat ($7.62 million) in the same period of 2019.
On an annualized basis, the bank reduced its profit by 1.5 times.
According to the bank report, the net interest income of the bank amounted to over 34 million manat ($20 million), an increase of 9.8 percent over the year. This income was got at the expense of interest income of 25.1 million manat ($14.7 million), an annual increase of 8.8 percent, as well as by interest expenses of 8.87 million manat ($5.21 million), which increased by 12.5 percent.
The bank's non-interest income amounted to 9.74 million manat ($5.72 million), an increase of 36 percent year on year. Non-interest expenses as of September 2020 amounted to 21.3 million manat ($12.5 million), an increase of 8.2 percent on an annualized basis.
(1 USD = 1.7 manat on Oct. 22)
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