Embafinance published a report - Net profit increased


November 6, Fineko/abc.az. Non-bank credit organization Embafinance LLC has unveiled its financial results for the first 9 months of 2019.

ABC.AZ informs that according to NBCO’s report, the organization completed the Jan-Sept term with net profit of AZN 2.64 million. For comparison, the organization increased its net profit by 84% versus the 2018 same period (AZN 1.431 million).

Embafinance’s net profit growth is conditioned with the rapid growth of revenues with an increase of loans given to customers. Compared with Jan-Sept 2018, NBCO’s interest income for Jan-Sept 2019 grew by 54% up to AZN 6.124 million, while revenues from commissions and fees by 13% up to AZN 1.1 million.

Compared with last September, Embafinance’s loan portfolio increased 2-fold and reached AZN 37.9 million as of 30 September 2019. During the same period of 2018 organization’s loan portfolio totaled AZN 19.5 million.

By Elmir Murad