Bank Of Baku

Bank VTB Azerbaijan reduces loss year-on-year

Bank VTB Azerbaijan reduces loss year-on-year
# 15 August 2012 11:16 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Russian Bank VTB Azerbaijan OJSC operated in loss during January-June, 2012, down 29 times from 2011’s loss.

Bank says total incomes rose 56% to AZN 3.393 mln, including interest incomes soared 53% to AZN 3.072 mln, non-interest doubled to AZN 321,000. Along with this, total expenditures, during 12 months, dropped 12% to 3.452 mln, as well interest expenditure rose 2.3 times to AZN 944,000, non-interest expenditures slipped 29% to AZN 2.507 mln.

Interest profit grew 34% to AZN 2.128 mln, non-interest loss slid 35% to AZN 2.186 mln.

Note that, Bank VTB Azerbaijan obtained licence in March, 2009.
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