Zaminbank completes the first half of 2015 with a profit

Baku. 7 August. REPORT.AZ/ Zaminbank OJSC completed the first half of this year with a profit of 5.9 mln. manats.

Report informs referring to the bank, revenues amounted to 14.1 million manats, expenses 8.1 mln. manats.

In the first half of the year, interest income of the bank amounted to 17.3 million manats, expenses - 5.3 mln. manats. As a result, the bank completed the first half of 2015 with a profit rate of 12.1 million manats, but non-interest losses amounted to 6.1 mln. AZN.

The bank's assets since the beginning of the year, increased by 11.2% and as of July 1 of this year amounted to 502.5 million manats. Bank's loan portfolio decreased by 2.6% to 311.3 million manats. Of these, 5.7% or 17.7 million manats placed in foreign, 94.3% or 293 600 000. manats in the national currency. Non-performing loans accounted for 4.17%, or 12,985,000. manats of loan portfolio. This rate as of 1 January of the current year, was equal to 4.46%, or 14,236,000 manats.

According to the bank, the deposit portfolio of Zaminbank increased dramatically, from 43.4 to 85.4 mln. manats. Of these, 64.3% or 54.9 million manats placed in foreign, 35.7% or 30.5 million manats in the national currency.