Interest income of Muganbank on loans increased

Baku. 21 April. REPORT.AZ/ Profit of Muganbank OJSC in the first quarter of this year amounted to 507.36 thousand AZN. The same period last year the bank concluded with a loss of 8 594.51 thousand AZN.

Report informs referring to the bank, the bank's earnings on an annualized basis decreased by 10.7% - to 20 581.61 thousand AZN, expenses by 36.6% - to 20 074.25 thousand AZN.

Interest income increased by 18% and amounted to 16 898.6 thousand AZN, interest expenses by37.3% - to 8 425.9 thousand AZN.

Thus, in the first quarter net interest income of the bank amounted to 8 472.7 thousand AZN, which is more by 3.5% than in the same period of last year.