Expressbank raises Q1 profit

Expressbank raises Q1 profit
# 19 April 2011 08:42 (UTC +04:00)
Baku. Elnur HUseynguluyev – APA-Economics. Azerbaijan-based Expressbank’a profit made AZN 2.559 mln in January-March, up 3.6 times in comparison to a year ago.

Bank says total income rose 64.4% to AZN 8.841 mln, including intrest income soared 2.2 times to AZN 3.200 mln, non-interest income surged 10% to AZN 1.641 mln.

Total expenditure climbed 2.2% to AZN 2.282 mln, including interest expenditure grew 28.6% to AZN 575 000, non-interest expenditure slipped 4.5% to AZN 1.707 mln.

Interest profit increased by 2.6 times to AZN 2.626mln, non-interest loss dropped 77.6% to AZN 66.080 mln.

Expressbank has been in operation since 1989. The bank operates 10 branches, 32 ATMs and 11 POS-terminals across the country.
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