Express Bank sees rise in profit tax 

Kanan Sadigov
Author

Express Bank ended January-September of 2021 with AZN 8.127 million in net profit, up 9.4% from a year earlier, Report informs, citing the bank.

Over the past nine months, the bank’s incomes stood at AZN 40.854 million (3.2% more than a year ago), expenditures at AZN 30.519 million (0.5% more), allocations for special reserves at AZN 443,000 (38.8% less), profit tax at AZN 1.766 million (63.4% more).

As of October 1, 2021, the assets made up AZN 328.82 million, showing an 8% increase in comparison to a year ago. Of this, AZN 229.8236 million was loans to customers. The loan portfolio extended 11.8% year-on-year.

Liabilities went up 9.2% to AZn 199.396 million, deposit portfolio grew by 22.6 to AZN 138.285 million, net worth surged 6.2% to AZN 129.424 million.

Express Bank was established in 1989 (Azernegliyyatbank). The bank was renamed Express Bank in 2010. Authorized capital is AZN 112.545 million.

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