Bank Of Baku

Bank SilkWay gets 9% decline in quarterly profit

Bank SilkWay gets 9% decline in quarterly profit
# 02 May 2012 11:37 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Bank SilkWay’s profit made AZN 1.043 mln in January-March, 2012, down 9.3% from year earlier.

Bank says total income increased by 12% to AZN 2.763 mln, including interest income rose 32% to AZN 1.929 mln, non-interest income dropped 17% to AZN 0.834 mln. AT the same time, total expenditures surged 23% to AZN 1.501 mln, as well interest expenditures increased by 2.4 times to AZN 0.517 mln, non-interest expenditures slipped 17% to AZN 0.833 mln.

Remind that, Bank SilkWay has been in operation since 1993. The bank operates 6 branches, 19 ATMs and 5 POS-terminals across the country.
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