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VTB Azerbaijan increases non-interest losses

VTB Azerbaijan increases non-interest losses

25 August 2011 12:06 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. VTB Azerbaijanâ€™s losses during January-June, 2011, amounted to AZN 1.766 mln, down 7.3% from a year earlier.

Bank says total incomes rose 53% to AZN 2.168 mln, interest income â€“ 50% to AZN 2.012 mln, non-interest incomes increased by 2.2 times to AZN 156.48 mln.

Expenses soared 28.5% to AZN 3.934 mln, interest expenses dropped 32% to AZN 418.46 mln, non-interest expenses rose 7.3% to AZN 2.386 mln, PR and marketing expenses increased by 21% to AZN 38.27 mln.

Interest incomes increased by 2.2 times to AZN 1.593 mln, non-interest losses rose 3.5% to AZN 2.229 mln.

Note that, VTB Azerbaijan got a license in 2009.

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