BAKU, Azerbaijan, Feb. 11
By Zeyni Jafarov - Trend:
The Baku branch of the National Bank of Pakistan ended 2020 by decreasing losses by almost twofold compared to 2019, Trend reports citing the bank's financial report.
In accordance with the report, the bank's loss as of late 2020 reached 212,300 manat ($124,882), which is by 188,600 manat ($110,941) less than as of late 2019.
The loss of the Baku branch of the National Bank of Pakistan was formed through the interest income worth 369,500 manat ($217,352), which decreased by 9.8 percent while non-interest income – 217,240 manat ($127,788), which in turn increased by almost 11 times on an annualized basis.
The bank's interest expenses in 2020 amounted to 20,310 manat ($11,947), which shows an increase by five times compared to 2019 while non-interest expenses – 801,000 manat that’s $471,176 (a decrease of 7.2 percent for the year).
The loss before taxes and unforeseen expenses related to banking activity is estimated at 212,300 manat ($124,882), decreasing in annual terms by 47 percent.
Ultimately, the Baku branch of the National Bank of Pakistan ended 2020 with a loss of over 212,000 manat ($124,705).
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