BAKU, Azerbaijan, Feb. 4
By Eldar Janashvili - Trend:
A net profit of leading Azerbaijan’s corporate NBC Bank increased by 17.4 percent, and amounted to 1.3 million manat ($764,705) in 2019, compared to 1.1 million manat ($647,058) in 2018, Trend reports referring to the bank’s financial report.
Interest income of the bank increased by 10.4 percent and amounted to 19.4 million manat ($11.4 million). Interest expenses amounted to 4.6 million manat ($2.7 million), an increase of 35.3 percent.
In 2019, operating profit increased by two times and amounted to 4.5 million manat ($2.6 million) after the cost of creating special reserves, indemnity of possible losses on assets, which increased by over 1.5 times and amounted to 1.7 million manat ($1 million) compared to 2018. So, the operating profit was formed due to non-interest income in the amount of 15.3 million manat ($9 million), having increased by 39.2 percent and non-interest income worth 9.1 million manat ($5.3 million), an increase of 18.4 percent.
(1 USD = 1.7 AZN on Feb. 4)
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