Pasha Bank completes the first half of the year with a loss

Baku. 30 July. REPORT.AZ/ After taxation, OJSC Pasha Bank has completed the first half of the year with a loss of $ 873 thousand AZN. Profit before tax amounted to 171 thousand manats.

Report informs referring to the bank, in comparison with the same period of last year, income of the bank increased by 27.9% and expenditures 17.2%.

According to the report, in the first half of this year revenues of Pasha Bank totaled 44.652 million manats. 40,122,000 manats accounted for interest income, 4.53 million manats non-interest income. During the reporting period, expenses of the bank amounted to 24.893 million manats, of which 8.147 million manats accounted for interest expenses and 16,746,000 manats for non-interest expenses. As a result, the bank completed the first half with an interest income of 31.975 million manatst and non-interest loss of 12.216 million manats.

Thus, the net operating profit totaled to 19.76 million manats. For creation of special reserves to offset potential losses on assets was allocated 19,589,000 manats.

In the first half of last year, the bank's profit before taxes was 8.367 million manats, net profit after taxes made 6.656 million manats.