13:05 - 29.01.2020

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January 29, Fineko/abc.az. Bank of Baku has published the financial indicators for 2019.

ABC.AZ reports with reference to the Bank's data that BoB completed 2019 with net profit of AZN 24.57 million with 7-fold rise against 2018 (AZN 3.47 million.

In 2019 Bank's total interest and non-interest earnings amounted to AZN 52.2 million, while total interest and non-interest expenses AZN 44.927 million. Due to the excess of Bank's income over expenses, the operating profit of AZN 7.27 million was formed. AZN 24.258 million were added to operating income, released from the reserve for possible losses and as a result increased the profit by AZN 31.53 million. Last year BoB paid AZN 6.96 million of profit tax.

In 2018 BoB’s total earnings reached AZN 44.655 million and expenses AZN 71.46 million. Operational damage amounted to AZN 26.807 million. However, as the special reserves created to cover possible losses totaled AZN 30.28 million, the operating losses were closed, and the Bank also received net profit of AZN 3.47 million.

By Elmir Murad