Turkish bank`s total revenues in Azerbaijan grew by about AZN 2 million


October 9, Fineko/abc.az. Ziraat Bank Azerbaycan has published the financial indicators for Jan-Sept 2019.

ABC.AZ reports that total revenues of Ziraat Bank Azerbaycan (interest and non-interest) for Jan-Sept 2019 amounted to AZN 15.78 million and total expenses (interest and non-interest) AZN 11.842 million. The Bank allocated AZN 3.938 million of operating profit for creation of a special reserve to compensate for possible losses on AZN 843,000 of assets and paid profit tax for AZN 86,000.

Over the same term of 2018 Bank’s total earnings reached AZN 13.63 million and total expenditures AZN 8.705 million and operating profit AZN 4.358 million. Bank's profit fell by AZN 1.604 million as the Bank allocated AZN 2.516 million of operating profit for creation of a reserve and paid profit tax of AZN 237,000.

It follows from here that for the first 9 months of 2018 the operating profit of Ziraat Bank Azerbaycan fell by AZN 3.938 million, while for the same period of 2019 it reached AZN 4.358 million, as its expenditures grow more than income.

By Elmir Murad