Naxcivanbank`s net profit reduced


January 24, Fineko/abc.az. Naxcivanbank has declared its financial position.

ABC.AZ reports with reference to Bank's report that its net profit totaled AZN 5.179 million for the last quarter of 2019.

According to Bank's report, this is by AZN 920,000 or 15.09% less versus 2018.

As for interest income and expenses, compared with 2018, Bank's interest income exceeded AZN 7.969 million (AZN 898,000 or 12.70%) and interest expenses AZN 537,000.

Bank's interest-free income amounted to AZN 4.245 million (by AZN 2.2 million or almost 2-fold more against 2018.

Bank's non-interest expenses totaled AZN 4.099 million in 2019. In 2018 the Bank suffered losses in non-interest expenses of AZN 1.225 million.

The Bank has operating profit of AZN 7.578 million. Besides, AZN 1.06 million was allocated for this amount to create a special reserve to compensate for possible losses on assets.