BAKU, Azerbaijan, April 27. Azerbaijan's M Bulak non-banking credit organization (NBCO) ended 2021 with a net profit, Trend reports citing the NBCO's financial report.
According to the financial report, this figure amounted to over three million manat ($1.7 million).
Besides, according to the data confirmed by the audit report, the interest income of M Bulak last year amounted to 6.05 million manat ($3.56 million).
Meanwhile, interest expenses of the NBCO equaled 47,000 manat ($27,650), personnel costs - 1.87 million manat ($1.1 million), and administrative costs – 846,000 manat ($497,650).
The organization’s profit before payment of taxes made up 3.78 million manat ($2.2 million), and profit tax paid by the NBCO – 702,000 manat ($412,940) in 2021.
At the same time, its assets increased by 7.49 percent - up to 16.5 million manat ($9.7 million), and capital - by 23.24 percent - up to 4.6 million manat ($2.7 million) on annual basis.