The Bank of Baku has completed January-September 2021 with a net profit of AZN 16,788,000, 94.9% more than a year earlier, Report informs, citing the bank.
For nine months, the revenue of the Bank of Baku amounted to AZN 55,621,000 (16.6% more than a year earlier), expenses – to AZN 40,278,000 (10.1% more), savings on special reserves – to AZN 6,770,000 (15.9 times more) profit tax payments - to AZN 5,325,000 (up 82.2%).
As of October 1, the assets of the Bank of Baku amounted to AZN 494,464,000, which is 25.4% more than a year ago. Of this, AZN 312,415,000 are net loans to customers. Over the past year, the bank's loan portfolio grew by 27.5%.
During the reporting period, the liabilities of the Bank of Baku increased by 24.6% to AZN 400,316,000, including the deposit portfolio by 31.5% to AZN 237,768,000 and the net worth by 29.1% to AZN 94,149,000.
Bank of Baku has been operating since 1994. Its authorized capital totals AZN 52,870,000. Some 35% of the bank's shares belong to Turkey's NAB Holding, 31.1% to Hikmat Ismayilov (100% shareholder of Azsigorta OJSC and 99.6% shareholder of AFB Bank OJSC), 28.9% belong to Azpetrol Oil Company LLC, and 5% to Elchin Isayev (Chairman of the Supervisory Board).