Premium Bank`s income has grown

12:53 - 24.07.2019


July 24, Fineko/abc.az. Premium Bank completed the first 6 months of the year with net profit of AZN 7.85 million, Bank's report for the 1st half of 2019.

According to the report, Bank’s total income amounted to AZN 31.59 million and expenditures totaled AZN 24.5 million over Jan-Jun 2019. Given the fact that earnings exceeded expenditures, Bank's operating profit remained in the amount of AZN 7.87 million. Bank's profit grew by AZN 8.6 million, as the reserve of AZN 1.513 million became free. Premium Bank paid AZN 747,000 of profit tax from its profit.

For comparison, for Jan-Jun 2018 Premium Bank’s total income amounted to AZN 26.99 million, total expenditures AZN 22.77 million, and operating profit AZN 4.912 million. The net profit of the Bank increased by AZN 12.256 million as AZN 7.613 million were released from reserves for possible loss of deposit and loan.

Thus, Premium Bank’s profit, except for the release from reserves, increased by 44.3%.

 

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