15:03 - 5.11.2019

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November 5, Fineko/abc.az. The International Bank of Azerbaijan completed the Jan-Sept period of 2019 with net profit of AZN 322.987 million.

ABC.AZ reports that the data was covered by IBA’s financial indicators.

Thus, Bank's net profit grew by 1.2% (versus the 2018 same term: AZN 319.128 million).

IBA’s total revenues for the reported period amounted to AZN 434.529 million and total expenditures AZN 184.86 million. As a result, Bank's operating profit reached AZN 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.

For comparison, for Jan-Sept 2018 IBA’s total revenues reached AZN 389.58 million, total expenses AZN 173.2 million, and operating profit AZN 216.56 million. During that period due to the return of AZN 102.567 million from the reserve, the profit grew up to AZN 319.128 million.

IBA’s overall revenues grew by AZN 44.947 million or 11.5% and total expenditures by AZN 11.8 million or 6.8%. This year’s excess of income over expenses this year ensured IBA’s operating profit by AZN 33.107 million or 15.3% more against the 2019 same term.