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AGBank gets 56% rise in profit year-on-year

AGBank gets 56% rise in profit year-on-year

31 October 2012 11:45 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. In January-September, 2012, Azerbaijan-based AGBank got AZN 3.392 mln-profit, up 56% from a year earlier.

During the reporting period, total incomes grew by 9% to AZN 34.938 mln, interest incomes rose 8% to AZN 25.913 mln, non-interest incomes increased by 13% to AZN 9.025 mln.

Expenses soared 9.2% to AZN 29.038 mln, interest expenses rose 21% to AZN 14.179 mln, non-interest expenses grew by 3.1% to AZN 14.858 mln.

Interest profit during this period dropped 1.3% to AZN 11.734 mln, non-interest loss slipped 9% to AZN 5.833 mln.

AGBank has been in operation since 1992. It operates 16 branches, 55 ATMs and 1,132 POS-terminals across the country.

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