NBC Bank ends Q1 on loss

As of April 1, 2019, NBC Bank’s assets stood at AZN 288.374 million, up 30% from the previous year, Report informs.

Bank says AZN 212.489 million of the assets  were the loans issued to customers. Loan portfolio extended by 29.1% year-on-year.

Liabilities increased by 40.6% to AZN 230.869 million, as well as deposit portfolio surged by 28.6% to AZN 106.135 million, total capital dropped by 0.2% to AZN 57.505 million.

Interest incomes ascended by 15.3% to AZN 4.584 million, interest expenditures advanced 46.8% to AZN 3.529 million, non-interest incomes went up 46.6% to AZN 937,000, non-interest expenditures climbed 51.8% to AZN 2.329 million, allocations for special reserves on compensation of possible losses on assets made up AZN 257,000. Consequently, the bank ended the first quarter of 2019 on AZN 595,000 in loss, while it ended the first quarter of 2018 on AZN 818,000 in profit.

NBC Bank was established in 1992 as Ruzu commercial bank and rebranded in 2002. Its authorized capital is AZN 64 million.