Profit of "Express Bank" sharply reduces

Baku. 4 May. REPORT.AZ/ Profit of "Express Bank" for the first quarter of 2015 in comparison with the same period of last year decreased by 3.11 times and amounted to 1.6 mln. manats.

Report informs referring to the bank, in January-March of this year, the bank's income increased by 12.32% to 12.8 million manats. Of these, interest income increased by 10.49% to 10.4 million manats, non-interest income - by 21.05%, amounting to 2.4 mln. manats.

According to the report, there has been a significant increase in costs. Thus, the total expenditure increased by 76.88% to 11.1 million manats. Of these, interest expenses increased by 27.95% and amounted to 2.4 mln manats, non-interest expenses - by 98.92%, amounting to 8.5 million manats.

During this period, spending on PR and marketing increased from 166 thousand to 268 thousand manats.

According to the report, the net interest income of Express Bank was 8.0 mln. manats, non-interest loss - 6.1 mln. manats. For the same period last year profit was 7.5 mln. manats, non-interest loss - 2.3 mln. manats.

Note that the number of bank customers has also increased in comparison with the same period oflast year and on April 1, made109 700 people. Of these, 634 legalandothersareindividuals.