Interest income of Aqrarkredit has more than doubled


August 14, Fineko/abc.az. Aqrarkredit's interest income increased by 2.1 times compared with 2017 and amounted to AZN 17.17 million, says the annual report of the non-bank credit organization.

In 2017, the interest income of the organization reached AZN 8.18 million. The report says that despite Aqrarkredit’s income growth and the allocation of less funds for creation of a reserve for possible losses, the net profit was less than on an annual basis, in connection with the losses and the increase in operating expenses on operations with foreign currency.

The allocation of reserves for possible losses on interest-bearing assets decreased by 4.2 times to AZN 1.93 million.

Compared with 2017, Aqrarkredit's operating expenses doubled up to AZN 11.799 million in 2018.