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Azerbaijani ASB Bank reveals its 2020 net income

Finance Materials 21 January 2021 13:53
Azerbaijani ASB Bank reveals its 2020 net income

BAKU, Azerbaijan, Jan.21

By Fidan Babayeva – Trend:

Azerbaijan’s ASB Bank OJSC finished 2020 with a net profit of 5.2 million manat ($3.05 million), Trend reports with reference to the financial report of the bank.

As the bank stated, the mentioned figure for 2019 was 7.68 million manat ($4.51 million),

During the year, the bank's profit fell by 32 percent, the bank added.

According to the bank report, the net profit was received through the interest income of 15.3 million manat ($9 million), a decline by 25 percent over the year, as well as by non-interest income of 5.3 million manat ($3.11 million), which declined by 48 percent year on year.

“ASB Bank interest expenses as of late December 2020 made up 16.7 million manat ($9.82 million), having risen by 5.6 percent. At the same time, non-interest expenses made up 14.9 million manat ($8.76 million), showing an increase of 15.5 percent,” the report reads.

The report added that operating profit decreased by 40 percent over the year and stood at 5.8 million manat ($3.41 million), while last year, it was 9.7 million manat ($5.7 million).

(1 USD = 1.7 AZN on Jan. 21)

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