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Azerbaijan's Kapital Bank completes 2Q2021 with profit

Finance Materials 29 July 2021 17:23 (UTC +04:00)
Azerbaijan's Kapital Bank completes 2Q2021 with profit

BAKU, Azerbaijan, July 29

By Zeyni Jafarov - Trend:

Azerbaijan's Kapital Bank completed the second quarter of 2021 with a net profit of 99.7 million manat ($58.6 million), while in the same period of 2020 this figure was 170.5 million manat ($100.3 million), Trend reports citing the bank's financial report.

Thus, the profit of Kapital Bank dropped by 41.5 percent on an annual basis, the bank said.

According to the report, the bank's profit was formed at the expense of interest income of 226.7 million manat or $133.3 million (an increase of 5.1 percent on annual basis) and non-interest income of 137 million manat or $8.05 million (an increase of 35.7 percent).

Interest expenses amounted to 31.7 million manat or $18.6 million (an increase of 32.3 percent on annual basis), and non-interest expenses - 151.7 million manat or $89.2 million (an increase of 19.3 percent over the year).

“Profit before taxes and unforeseen expenses related to banking activities amounted to 126.7 million manat ($74.5 million), decreasing by 37.8 percent over the year. Thus, the second quarter of this year for Kapital Bank ended with a net profit of 99.7 million manat ($58.6 million),” the Kapital Bank report added.

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