Bank Eurasia gets sharp decline in profit

As of April 1, 2019, Bank Eurasia’s assets amounted to AZN 155.347 million, down 4.2% from the previous year, Report informs.

Bank says the loans issued to customers made up AZN 75.997 million. Loan portfolio dropped by 0.1%.

Liabilities slipped by 8.7% settling at AZN 91.304 million, deposit portfolio slid 20.4% to AZN 41.235 million, total capital rose by 2.9% to settle at AZN 64.044 million.

Interest incomes rose by 3.9% to AZN 2.904 million, interest expenditures fell by 7.8% to AZN 606,000, non-interest incomes went up 33% to AZN 395,000, non-interest expenditures advanced 0.4% to AZN 1,059 million, allocations for special reserves on compensation of possible losses on assets made AZN 1.628 million, unexpected incomes rose 8-fold to AZN 8,000. Consequently, the bank ended the first quarter of 2019 on AZN 14,000 in profit, down 321-fold from the previous year.

Bank Eurasia has been in operation since 2007. İts authorized capital amounts to AZN 50 million.