13:18 - 24.04.2020

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April 24, Fineko/abc.az. Rabitabank completed the 1st quarter of 2020 with net profit of AZN 1.129 million.

ABC.AZ reports that according to the Bank, in the 1st quarter of 2019 the Bank received net profit of AZN 3.258 million. The decrease in net profit is linked with redundancy.

In the 1st quarter Bank's business expanded, revenues and operating profit increased. Over Jan-Mar 2020 Rabitabank’s total operating income amounted to AZN 14.74 million and total operating expenses AZN 10.49 million. Since revenues exceed expenses, the Bank has an operating profit of AZN 4.25 million. The Bank closed the first quarter with net profit of AZN 1.129 million, as operating profit amounted to AZN 3.12 million in target reserves for possible losses.