Azerbaijan Industrial Bank`s net profit exceeds AZN 1 million for Jan-Sept 2019 - Report


October 16, Fineko/abc.az. Azerbaijan Industrial Bank has published the financial indicators for the first 9 months of 2019.

ABC.AZ informs that according to AIB’s report, for the reported term Bank’s net profit totaled AZN 6.646 million with rise of 41.2% versus the 2018 same term (AZN 4.705 million). The report says that for Jan-Sept 2019 AIB’s total revenues amounted to AZN 28.805 million, and its total earnings amounted to AZN 20.125 million. As a result, Bank's operating profit reached AZN 8.68 million.

The Bank allocated AZN 356,000 of operating profit for creation of a special reserve to compensate for possible losses on assets and paid income tax for AZN 1.678 million.

Over Jan-Sept 2018 Bank's total revenues amounted to AZN 23.445 million, total expenditures AZN 18.37 million, and operating profit AZN 5.79 million. Thus, total revenues and operating profit of AIB have increased.

By Elmir Murad