IBA completes last year with net profit of 806 mln AZN

Baku. 16 January. REPORT.AZ/ The International Bank of Azerbaijan (IBA) OJSC gained net profit of 806.004 mln AZN in 2017.

Report informs referring to the bank's profit and loss statement.

Last year, IBA's interest income made 510 101 thousand AZN, non-interest income 513 245 thousand AZN, interest expenses 307 777 thousand AZN, non-interest expenses 180 924 thousand AZN. The bank saved 271.359 mln AZN on the funds allocated to establish special reserves to cover possible losses on assets.

Notably, IBA ended 2016 with net loss of 1 356.492 mln AZN.

The Bank's assets amounted to 8 695 106 thousand AZN (less by 28.9% in annual comparison) in early 2018, while liabilities 7 746.92 mln AZN (less by 40%). Loan and deposit portfolio of the financial institution amounted to 1 784.359 mln AZN (less by 64.6%) and 5 155.461 mln AZN (less by 14%) respectively.