Baku, Azerbaijan, Aug. 22
By Eldar Janashvili – Trend:
Azerbaijan’s non-bank credit organization Finoko completed 2018 with net profit worth 602,900 manats, Trend reports referring to the organization’s audit report.
The company completed 2017 with profit worth 26,500 manats. The profit of the organization increased by almost 23 times for the year.
According to the audit report, the organization’s net interest income increased by a third, amounted to 1.395 million manats. It was formed through interest income in the amount of 2.841 million manats (an increase by almost ten percent for the year) and interest expenses worth 1.446 million manats (a decrease by 6.3 percent for the year).
The non-interest income increased by more than four times and amounted to 575,600 manats at the end of the reporting year. Having increased by 36 percent, non-interest expenses amounted to 1.389 million manats. Thus, the operating revenue for the year amounted to 601,490 manats, having increased by ten times.
(1 USD = 1.7 AZN on Aug. 22)
---
Follow the author on Twitter: @eldarjanashvili
