AFB Bank`s profit grew sharply - by 23 times


May 4, Fineko/ On 1 March 2020 the total assets of AFB Bank reached AZN 577.458 million.

ABC.AZ informs that according to Bank's report, at the end of 2019 Bank's assets amounted to AZN 574.706 million.

In the 1st quarter AFB Bank’s deposits increased by AZN 1.942 million up to AZN 381.4 million versus the 2019 same term.

At the same time, as of 31 March 2020 AFB Bank had a total capital of AZN 81.882 million. Bank's profit for the reporting period also increased.

Thus, the Bank completed the 1st quarter of 2020 with profit of AZN 2.553 million. The profit in this quarter is 23 times more versus the the profit for the 2019 same term.

Over Jan-Mar 2020 AFB Bank's revenues amounted to AZN 9.566 million (1.2% less than a year earlier), expenses AZN 4.906 million (9.9% less), and transfers to special reserves AZN 2.107 million (49% less).