Express Bank triples profit

As of July 1, 2019, Express Bank OJSC’s assets stood at AZN 348.662 million, down 20.8% from the previous year.

The loans issued to clients constitute AZN 221.789 million of this amount. The loan portfolio extended by 10.2% year-on-year.

Liabilities dropped by 23.4% to AZN 225.934 million, deposit portfolio slid 31% to AZN 180.366 million, while total capital slipped 15.4% to AZN 122.728 million.

Incomes rose by 25.5% to AZN 25.767 million, expenditures grew by 10.9% to AZN 22.84 million, savings on allocations for special reserves fell by 83.6% to AZN 201,000. Consequently, the bank ended the first half of 2019 on AZN 3.128 million in profit, up 3.15-fold in comparison to a year earlier.

Express Bank was established in 1989 under the name of Azernegliyyatbank. It rebranded in 2010. Its authorized capital is AZN 137.257 million.