BAKU, Azerbaijan, Aug.6
By Eldar Janashvili - Trend:
Azerbaijan’s Bank BTB OJSC ended the first half of 2020 with the net loss worth 107,000 manat ($62,940) against the profit of 895,000 manat ($526,400) in the same period of last year, Trend reports referring to the bank’s consolidated audited financial statement.
According to the statement, in the reporting period, the bank’s net interest profit made up 6.6 million manat or $3.8 million (a year-on-year growth of 35.6 percent). The profit was formed due to the difference between interest incomes of 13.3 million manat or $7.8 million (up 25.2 percent for the year) and interest expenses of 6.7 million manat or $3.9 million (a growth for the year by 16.3 percent).
The bank's commission profit amounted to 912,000 manat or $536,400 (an increase of 18.4 percent over the year), being formed via the difference between commission incomes worth 2.3 million manat or $1.3 million (a 20.5 percent-decrease year on year) and commission expenses in the amount of 8 million manat or 4.7 million, which is growth of 14.3 percent on annualized basis).
Special reserves to cover possible losses on assets amounted to 1.02 million manat ($600,000).
BTB Bank OJSC was established in 2010. Currently, it has 17 branches.
(1 USD = 1.7 manat on Aug.6)
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