Profit of Azerbaijan Industry Bank sharply reduced

Baku. 5 August. REPORT.AZ/ Azerbaijan Industry Bank has completed the I quarter with a loss of about 2.0 mln. manats and was able to complete the first half of the year with a profit. However, in the annual comparison, semiannual income of the bank declined by 5.6 times - to 363.6 thousand manats.

Report informs referring to the bank, in January-June of this year, revenues decreased by 2.2 times - to 10.1 mln. manats, expenses - 5.73% - to 7.1 mln. manats.

According to the report, in the first half of the year, interest income of the bank amounted to 10.9 million manats, interest expenses 2.9 mln. manats. Thus, the bank has completed the first half of 2015 with a profit rate of 8.0 million manats, which is 13.6% more than in the same period of last year.

During this period, non-interest income of the bank amounted to (-823.4 thousand) manats, non-interest expenses 4.2 mln. manats. Thus, in the first half of the year, non-interest loss of the bank amounted to 4.987 million manats, which is 10 times more than in the same period of last year. Non-interest loss of the bank in the same period of last year amounted to 491.0 thousand manats.