Profit of Rabitabank declined

Baku. 12 May. REPORT.AZ/ Rabitabank OJSC completed the first quarter with a profit of 998 thousand manats, which is 13.3% less than corresponding period of last year.

Report informs referring to the Bank, during this period the bank's revenues decreased by 29.3% to 14.5 million manats, expenses - by 30.2% to 13.5 million manats.

According to the report, for the first quarter interest income amounted to 9.9 million manats, non-interest income - 4.6 mln manats, interest expense - 3.7 mln.manats, non-interest expenses - 9.9 mln.manats.

As a result, net interest income of the bank declined by 2.57 times and amounted to 6.2 mln manats, non-interest losses - 2.84 times and amounted to 5.2 mln manats.

The bank's costs for PR and marketing declined by almost 2 times in comparison with the same period last year - from 67 thousand manats to 34 thousand manats.

On April 1, the authorized capital of the bank amounted to 48.5 mln manats, total capital - 59.6 mln. manats.