Gunay Bank sees 69% decline in profit

As of April 1, 2019, the assets of Gunay Bank amounted to AZN 203.731 million, up 6.2% by contrast to a year earlier.

The bank says that the loans issued to customers made up AZN 125.345 million of the entire assets. The loan portfolio rose by 4.4% in contrast to a year earlier.

Liabilities rose by 8.4% settling at AZN 141.179 million, deposit portfolio dropped by 12.1% down to AZN 78.604 million, liabilities to the Central Bank of Azerbaijan (CBA) slipped 9.8% to AZN 5.5 million.

Total capital rose by 1.6% to AZN 62.552 million.

Interest incomes went up 1% to AZN 2.819 million, interest expenditures stepped up 2.3-fold to AZN 2.061 million, non-interest incomes fell by 29.7% to AZN 1.542 million, non-interest expenditures surged 26.3% to AZN 1.817 million, allocations for special reserves on compensation of possible losses on assets slid 84.1% to AZN 91,000. Consequently, the bank ended the first quarter of 2019 on AZN 391,000 in profit, down 69.1% in comparison to a year ago.

Gunay Bank was established in 1992. Its authorized capital is AZN 64.91 million.