Qafqaz-Kredit`s net profit reduced by 32%


June 3, Fineko/abc.az. NBCO Qafqaz-Kredit LLC completed 2019 with net profit of AZN 31,000.

ABC.AZ reports with reference to news agency Report that according to NBCO's financial statements, the figure is by 32.6% less than in 2018.

Last year Qafqaz-Kredit's pre-tax profit was AZN 39,000 (45.1% less than a year earlier), and its income tax payments were AZN 8,000 (68% less).

As of 1 January Qafqaz-Kredit's assets amounted to AZN 1.1 million (by 37.7% more than a year earlier). Of them, AZN 818,000 are net loans to customers. In 2019 NBCO's loan portfolio grew by 47.9%.

During the reporting period Qafqaz-Kredit grew by 282 times and reached AZN 282,000, while the balance sheet capital increased by 3.7% and reached AZN 858,000.