Baku, Azerbaijan, July 12
By Kheyraddin Nasirzade - Trend:
The net profit of Azerbaijan's Bank Avrasiya in the second quarter of 2019 decreased by 43.3 percent compared to the same period last year, Trend reports referring to the bank's financial report.
According to the report, net income as of June 30, 2019 amounted to 2.683 million manats.
The bank's interest income in the first half of this year amounted to 5.731 million manats, which is almost 5.2 percent less than for the same period last year. At the same time, interest on loans decreased by 6.6 percent to 3.859 million manats. Interest expenses during the reported period amounted to 1.246 million manats, which is 9.1 percent less than last year. As a result, interest income amounted to 4.484 million manats.
As indicated in the report, non-interest income during the reported period decreased by 25.5 percent to 792,900 manats. Non-interest expenses increased by 7.5 percent, reaching 2.387 million manats. As a result, operating income at the end of June decreased by 6.2 percent and reached 2.89 million manats.
After deducting reserves to cover potential losses on assets in the amount of 265,100 manats, the bank's net profit amounted to 2.633 million manats.
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