BAKU, Azerbaijan, Oct. 27
By Fidan Babayeva - Trend:
Azerbaijani Bank Respublika OJSC completed the first nine months of 2020 with a profit of over 5.83 million manat, Trend reports citing the bank's financial report.
According to the report, in the same period of 2019, this figure was 15.6 million manat ($9.17 million).
On an annualized basis, the bank's profit fell by almost 1.6 times, said the report.
According to the report, net interest income amounted to 35.3 million manat ($20.7 million), showing an increase of 21 percent over the year and was formed thanks to interest income of 55.6 million manat ($32.7 million), an annual increase of 10 percent, as well as by interest expenses of 20.2 million manat ($11.8 million), a decrease of 3.2 percent year on year.
The bank's non-interest income amounted to 19.4 million manat ($11.4 million), an increase of 47 percent on an annualized basis.
Non-interest expenses as of late March 2020 made up over 42.2 million manat ($24.8 million), an increase of 8.9 percent.
(1 USD = 1.7 manat on Oct. 27)
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