BAKU, Azerbaijan, Apr. 19
By Zeyni Jafarov - Trend:
Azerbaijan's Bank VTB completed the first quarter of 2021 with net profit worth 365,000 manat ($214,705), while this figure for the same period of last year was 762,000 manat ($448,235), Trend reports citing the bank's financial report on April 19.
Bank VTB's profit decreased by 52.1 percent on an annualized basis.
In accordance with the bank report, net interest income amounted to 2.5 million manat ($1.5 million). It was formed through interest income in the amount of 6.1 million manat that’s $3.6 million (a decline of 7.9 percent for the year) and interest expenses worth 3.6 million manat that’s $2.1 million (an increase of 15.5 percent for the year).
The bank's non-interest income amounted to 2.07 million manat that’s $1.2 million (an increase of 51.9 percent). The non-interest expenses as of the end of the quarter reached 4.5 million manat that’s $2.6 million (an increase of 14.45 percent).
The bank's profit amounted to 365,000 manat ($214,705), decreasing by 52.1 percent for the year.
Thus, the bank completed the first quarter of 2021 with net profit worth 365,000 manat ($214,705).
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