Bank Of Baku

Amrahbank increases Q1 profit sharply

Amrahbank increases Q1 profit sharply
# 12 May 2011 12:21 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Amrahbank’s profit during January-March, 2011, made AZM 1.333 mln, up 2.5 times from year earlier.

Bank says total income rose 44.8% to AZN 4.761 mln, including interest income dropped 7.3% to AZN 2.481 mln, non-interest income soared 3.7 times to AZN 2.279 mln.

Total expenditures surged 27.9% to AZN 3.627 mln, as well interest expenditures slipped 6.2% to AZN 1.197 mln, non-interest expenditure climbed 55.7% to AZN 2.431 mln, PR and marketing expenses slid 65% to AZN 12.950 thousand.

Interets profit fell 8.3% to AZN 1.284 mln, non-interest loss went down84% to AZN 151.6 mln.

Remind that, owned by 5 local individuals and Bahrain International Investment Bank Amrahbank has been in operation since 1993. The bank operates 20 branches, 20 ATMs and 58 POS-terminals across the country.
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