Losses of Baku branch of Pakistan’s National Bank up 3 times

The Baku branch of the National Bank of Pakistan has completed the first quarter of this year with a loss of 222,000 manats, Report informs referring to the financial statements of the branch.

This is 3.2 times more than in the same period last year.

In January-March, the bank’s income amounted to 51,000 manats (2.7 times less year-on-year), expenses to 277,000 manats (31.3% more), and savings on deductions to special reserves to 5,000 manats (2.1 times less).

As of April 1 this year, the bank’s assets amounted to 9.337 million manats, which is 7.6% less year-on-year. Of these, 558,000 manats are net loans issued to customers. Over the past year, the loan portfolio of the branch decreased by 10.1%.

During the reporting period, the bank’s liabilities decreased by 31.9%, to 442,000 manats, including the deposit portfolio - by 42.1%, to 370,000 manats, and balance capital - by 5.9%, to 8.895 million manats.