Rabitabank sharply increases profit

As of April 1, 2019, Rabitabank’s assets stood at AZN 717.955 million, up 8% from previous year.

Bank says AZN 299.129 million of the assets was loans given to customers. Loan portfolio extended by 41.3% from previous year.

Liabilities increased by 8% to AZN 624.733 million, deposit portfolio surged by 2.9% to AZN 515.532 million, total capital soared 7.4% to AZN 93.223 million.

Interest incomes increased by 8.6% to AZN 9.679 million, interest expenditures fell by 30.1% to AZN 2.593 million, non-interest incomes slid 5.8% to AZN 2.082 million, non-interest expenditures grew by 21.6% to AZN 6.292 million, allocations for special reserves on compensation of possible losses on assets made up AZN 383,000. Consequently, the bank ended the first quarter of 2019 on AZN 3.258 million in profit, up 32-fold from previous year.