Azerbaijan's Bank BTB ends 2020 with loss

Finance Materials 5 February 2021 17:20 (UTC +04:00)
Azerbaijan's Bank BTB ends 2020 with loss

BAKU, Azerbaijan, Feb.5

By Fidan Babayeva – Trend:

Loan portfolio of Azerbaijan's Bank BTB made up slightly over 206 million manat ($121.2 million) at the end of 2020, showing a 0.3-percent decline compared to the second quarter of the year, Trend reports citing the bank's financial report.

By the late 2020, the bank's net loss amounted to 9.1 million manat ($5.3 million), against 7.5 million manat ($4.4 million) of profit in 2019 and was formed between interest revenues of over 11.9 million manat ($7 million) and non-interest expenses of 15 million manat ($8.8 million).

According to the bank’s report, the operating profit in the past year equaled 1.94 million manat ($1.14 million).

Bank BTB OJSC received a license for banking activities in Azerbaijan in 2010. The bank's shareholders are three individuals.

BTB Bank was established in 2010 and currently has 17 service points.

(1 USD = 1.7 AZN on Feb.5)