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Xalg Bank increases profit by 91%

Xalg Bank increases profit by 91%

08 February 2012 12:53 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Xalg Bankâ€™s profit for 2011 stood at AZN 25.758 mln, up 91% from 2010.

Bank says incomes rose 22% to AZN 63.759 mln, as well interest incomes increased by 26% to AZN 59.044 mln, non-interest incomes dropped 15% to AZN 4.714 mln.

Total expenditure decreased by 2.3% to AZN 38 mln, including interest expenditures soared 15% to AZN 25.654 mln, non-interest expenditures sliped 26% to AZN 12.346 mln.

Interest profit advanced 36.4% to AZN 33.390 mln, non-interest profit slid 31% to AZN 7.632 mln.

Remind that, Xalg Bank has been in operation since 2004. The bank operates 18 branches, 34 ATMs and 61 POS-terminals across the country.

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