NBC Bank sees tenfold decrease in profit

As of July 1, 2019, NBC Bank OJSC’s assets stood at AZN 293.711 million, up 22.4% from previous year.

Report informs citing the bank that loans given to clients amounted to AZN 213.645 million, up 15.6% by contrast to a year earlier.

Liabilities rose by 29.8% to AZN 235.378 million, deposit portfolio surged by 31.1% to AZN 111.783 million, total capital dropped by 0.5% to AZN 58.332 million.

Revenues grew by 9.8% to AZN 10.929 million, expenditures went up 38.6% to AZN 11.351 million, savings on special reserves advanced 5.6-fold to AZN 606,000. Consequently, the bank ended the first half on AZN 185,000 in profit, down 90.1% or tenfold from a year ago.

NBC Bank was established in 1992 as Ruzu Commercial bank. It was rebranded in 2002.