Bank Of Baku

Ganjabank increases profit sharply

Ganjabank increases profit sharply
# 24 May 2011 07:32 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. In January-March, 2011, Azerbaijan-based Ganjabank’s profit stood at AZN 408 mln, up 91%.

Bank says total incomes decreased by 8% to AZN 832 mln, interest incomes – 3.7% to AZN 805 mln, non-interest incomes – 61% to AZN 27 mln.

Total expenses went down 395 to AZN 424 mln, interest expenses – 3.6% to AZN 295 mln , non-interest expenses – 66% to AZN 127 mln, PR and marketing expenses – 7.9 times to AZN 1.2 mln.

Interest profit decreased by 3.8% to AZN 510 mln, non-interest loss – 67% to AZN 100,000.

Remind that, Ganjabank has been in operation since 1994. The bank operates 3 branches, 6 ATMs and 14 POS-terminals across the country.
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