BAKU, Azerbaijan, Oct. 23
By Fidan babayeva - Trend:
Azerbaijan's Bank of Baku LLC completed the first nine months of 2020 with a net profit of over 8.6 million manat ($5 million), which is 3.8 times less compared to the same period of 2019, Trend reports citing the bank's financial report.
According ot the report, the income of Bank of Baku for the reporting period surpassed 47.6 million manat ($28 million), which is 25.4 percent more compared to a year earlier, and expenses - 36.5 million manat ($21.4 million), which increased by 16.2 percent year on year earlier.
The reports said interest expenses of the bank as of late September this year amounted to 8.93 million manat ($5.25 million), non-interest - 31.1 million manat ($18.2 million).
The bank's net profit excluding taxes amounted to 11.5 million manat ($6.76 million), added the eport.
(1 USD = 1.7 manat on Oct. 23)