PASHA Bank earns more than AZN 64 million of net profit for Jan-Sept


November 5, Fineko/abc.az. PASHA Bank completed the Jan-Sept 2019 period with net profit of AZN 64.596 million.

ABC.AZ informs that the data is covered by Bank’s financial indicators for the first 9 months of this year.

PASHA Bank's net profit grew by AZN 14.167 million or 28% (versus AZN 50.429 million of net profit for Jan-Sept 2018). Bank's total revenues amounted to AZN 198.16 million for Jan-Sept 2019 (rise of AZN 51.549 million or 35% against Jan-Sept 2018). Over Jan-Sept 2018 PASHA Bank earned only AZN 146.615 million.

Bank’s interest income totaled AZN 146.408 million (rise of AZN 22.145 million or 17.8%) and non-interest income AZN 51.756 million (rise of AZN 29.404 million or 2.3-fold). Total expenses reached AZN 107.48 million (rise of 12.8% or AZN 12.16 million against Jan-Sept 2018). In total, PASHA Bank's expenses amounted AZN 94.887 million for the 2018 Jan-Sept term. The excess of Bank's revenues over expenses ensured the growth of operating profit.

Over Jan-Sept 2019 Pasha Bank's operating profit totaled AZN 88.816 million. The Bank allocated operating profit of AZN 13.89 million to create a special reserve to compensate for possible losses on assets, and also paid income tax of AZN 11.1 million.

As a result, Bank's net profit amounted to AZN 64.596 million.

By Elmir Murad