BAKU, Azerbaijan, July 30
By Eldar Janashvili – Trend:
Azerbaijani big corporate AFB Bank completed the first half of 2020 with net profit worth 3.2 million manat ($1.9 million), while the loss amounted to 1.7 million manat ($1 million) in late 2019, Trend reports on July 30 citing the bank's financial report.
The bank's profit increased by 1.9 times in the first half of 2020.
In accordance with the bank’s report, the net interest income amounted to 13.04 million manat that’s $7.7 million (a decrease by one percent) and was formed through the interest income in the amount of 14.06 million manat that’s $8.3 million (a decrease by 2.1 percent since the beginning of the year) and interest expenses worth 1.02 million manat that’s $6,000 (a decrease by 13.8 percent).
The bank's non-interest income amounted to 3.8 million manat that’s $2.2 million (a decrease of 19 percent since the beginning of the year). The non-interest expenses at the end of June 2020 amounted to 8.6 million manat that’s $5.05 million (a decrease of 9.25 percent).
The expenses for the formation of a special reserve to cover the possible losses on assets amounted to five million manat ($2.9 million), decreasing by 25.2 percent compared to 2019.
(1 USD = 1.7 AZN on July 30)
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