Revenues of VTB Bank (Azerbaijan) increased by 22%

Baku. 6 May. REPORT.AZ/ VTB Bank (Azerbaijan) has completed the first quarter with a loss of 6.979 million manats.The bank completed the first quarter of last year with a profit of 966.4 thousand manats.

Report informs referring to the bank for current period income of the bank increased by 13.0 million manats, expenses amounted to 8.4 million manats, respectively, 22% and 88.63% more than the same period last year.

According to the report, for the first quarter of last year, interest income of the bank amounted to 12.7 million manats, non-interest income - 302.5 thousand manats.Half of the total costs were interest expenses half - non-interest expenses.

During the reporting period, 11.7 million manats were allocated for the creation of special reserves to cover potential losses on assets.