Int`l Bank of Azerbaijan has published a report – There is a fall in interest income


October 14, Fineco/abc.az. For the first 9 months of the current year the assets of the International Bank of Azerbaijan (IBA) amounted to AZN 9.32 bn that is by 12% more versus the 2018 same period.

ABC.AZ informs that the indicators were covered by IBA’s report for Jan-Sept 2019.

Over the first 9 months Bank's liabilities grew by 11.2% up to AZN 7.829 bn. The loans given to customers by the Bank have increased as well. For example, during the reported term, the volume of loans given to customers grew by AZN 16.4 million (or by 12.84%) up to AZN 144.28 million.

Bank's interest income made up 8.22% or AZN 25.328 million more against Jan-Sept 2018. Only interest expenditures declined by 20.70% to AZN 71.68 million, while net interest income grew by 20.16% up to AZN 262.5 million, non-interest income by 24.30% up to AZN 100.335 million, non-interest expenditures by 36.98% up to AZN 113.176 million.

IBA’s revenues for Jan-Sept 2019 rose by 11.5% up to AZN 434.529 million and expenditures by 6.8% up to AZN 184.86 million. As a result, Bank's operating profit amounted to 249.669 million. At the same time the release of AZN 73.317 million from target reserves for possible losses ensured the growth of profit up to AZN 322.987 million.