AFB Bank completes 1st half of 2019 with net profit


July 24, Fineko/abc.az. AFB Bank has unveiled the financial statements for the first 6 years of 2019.

According to the report, the Bank finished the reported term with net profit of AZN 1.68 million.

The report says that for Jan-Jun 2019 AFB Bank’s total interest and non-interest income amounted to AZN 19.93 million (AZN 14.359 million interest and AZN 4.734 million non-interest income) and total expenditures AZN 15.348 million. Due to the excess of income over expenditures, the Bank received operating profit of AZN 3.744 million.

As AFB Bank allocated AZN 2.67 million of operating profit for the creation of a special reserve to compensate for possible losses on assets, it completed the first half of this year with net profit of AZN 1.677 million.