AGBank reduced its loss to AZN 2.12 million

12:16 - 29.01.2020


January 29, Fineko/abc.az. AGBank has presented the financial results for 2019.

ABC.AZ reports with reference to Bank's indicators that last year AGBank's total interest and non-interest income amounted to AZN 44.126 million, while interest and non-interest expenses AZN 52.356 million. Although earnings exceeded AZN 8.2 million, release of AZN 6.106 million from target reserves created for possible losses reduced the operating loss to AZN 2.12 million.

For comparison, in 2018  AGBank's total revenues reached AZN 52.9 million, total expenses AZN 50.616 million, and operating profit AZN 1.47 million. At the same time, AZN 3.89 million were freed from the target reserves created for possible losses, and the profit increased up to AZN 5.367 million.

 

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