Bank Of Baku

AGBank’s Q1 profit declines 10%

AGBank’s Q1 profit declines 10%
# 02 May 2011 14:30 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. In January-March, 2011, AGBank’s profit made AZN 562,000, down 9.65%^ from year earlier.

Bank says total income rose 1.6% to AZN 10.069 mln, including interest incomes decreased by 5.4% to AZN 7.482 mln, non-interest income soared 27.82% to AZN 2.587 mln.

Total expenditures surged 2.08% to AZN 9.506 mln, including interest expenses dropped 1.67% to AZN 3.965 mln, non-interest expenses rose 41.40% to AZN 5.550 mln, PR and marketing expenses slid 46.81% to AZN 40.220 thousand.

Interest profit climbed 9.29% to AZN 3.526 mln, non-interest profit rose 55.86% to AZN 2.963 mln.

Remind that, AGBank has been in operation since 1992. The bank operates 16 branches, 55 ATMs and 377 POS-terminals across the country.
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