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Bank of Azerbaijan gets 13% rise in Q1 interest profit

Bank of Azerbaijan gets 13% rise in Q1 interest profit

27 May 2011 07:14 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Bank of Azerbaijan JSC ended January-March, 2011, with AZN 20.390 mln losses, down 12.8 times.

Bank says total incomes rose 1.7% to AZN 4.874 mln, interest incomes decreased by 14.6% to AZN 3.688 mln, non-interest incomes rose 2.5 times to AZN 1.186 mln.

Expenses decreased by 3.1% to AZN 4.894 mln, interest expenses went down 29.85 to AZN 1.960 mln, non-interest expenses rose 30% to 2.935 mln, PR and marketing expenses went down 29 times to AZN 2.7 mln.

Interest profit rose 13% to AZN 1.728 mln, non-interest loss decreased by 2.1% to AZN 1.749 mln.

Remind that, Bank of Azerbaijan has been in operation since 1993. The bank operates 16 branches, 28 ATMs, 274 POS-terminals and 279 employees across the country.

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