Profit of Kredo Bank for the first half of 2015 increased by 54%

Baku. 7 August. REPORT.AZ/ Profit of Kredo Bank for the first half of the year increased by 54% and reached 797.6 thousand manats. During this period, revenues declined by 35.5% to 6.97 million manats, expenses by 42% to 5.973 million manats.

Report informs referring to the bank, revenues of 76.4% or 5.3 mln. manats and expenses of 33.7% or 2.0 mln. manats were costs related with bank interest operations. Thus, in the first half of the year, the bank received 3.3 mln. manats interest income, which on an annualized basis decreased by 61.1%.

During this period, non-interest income of the bank amounted to 23.6% or 1.7 mln. manats, non-interest expenses 66.3% or 3.962 million manats. As a result, non-interest loss of the bank amounted to 2.3 mln. manats, which is 71.0% less than in last year.

The number of customers of Kredo Bank grew at an annual rate of 27.2% on July 1, 2015 and amounted to 39.9 thousand people.