BAKU, Azerbaijan, Feb. 3
By Eldar Janashvili – Trend:
Azerbaijan’s corporate bank Access Bank ended 2019 with a net loss of 89.7 million manat ($52.7 million), while at the end of 2018, the loss amounted to 11.6 million manat ($6.8 million), Trend reports referring to the bank’s financial report .
On an annualized basis, the bank’s loss increased by 88 million manat ($51.7 million).
Net interest profit increased by 32.5 percent amounted to 48.1 million manat ($28.2 million), and was formed due to interest income of 95.9 million manat ($56.4 million), which increased by 8.8 percent and interest expenses of 47,8 million manat ($28.1 million), which dropped by 7.7 percent.
Non-interest income of the bank amounted to 27.9 million manat ($16.4 million) in 2019 compared to loss of 9 million ($5.2 million) in 2018. Non-interest expenses increased by 3.3 percent and amounted to 62.3 million manat ($36.6 million). Operating losses amounted of 34.4 million manat ($20.2 million).
The deduction of special reserves for recoveries of loss on assets amounted to 103.5 million manat ($60.8 million).
(1USD = 1.7 AZN on Feb. 3)
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