Muganbank`s commission and non-interest income have grown


July 19, Fineko/abc.az. Muganbank has published the financial statements for the 1st half of 2019.

According to the report, for Jan-Jun 2019 interest income on the Bank's loans amounted to AZN 18.906 million (by AZN 1.5 million or 8.8% morte versus the 2018 same term). Commission and interest-free income of the Bank totaled AZN 8.36 million with a rise of AZN 2.217 million or 36%.

Bank’s net loss reached AZN 9.825 million for Jan-Jun 2019.

Over the past 6 months of 2019 Muganbank’s earnings reached AZN 28.809 million and expenditures AZN 38.68 million. Expenditures for the creation of reserves on loans amounted to AZN 12.119 million. Without these expenditures, the Bank would receive AZN 2.3 million of operating profit.