ISB completed 2019 with net profit of over AZN 4 million


June 22, Fineko/abc.az. The Compulsory Insurance Bureau completed 2019 with net profit of AZN 4.27 million.

ABC.AZ informs with reference to CIB’s financial report that the organization ended 2018 with loss of AZN 3.66 million. The net profit formed due to an increase in revenues last year and reduction in transfers to the compensation reserve. CIB’s income on calendar contributions grew by AZN 1,347 or 17% versus 2018 and amounted to AZN 9.24 million.

It should be noted that CIB’s distribution of transfers to compensation reserves decreased from AZN 3.294 million in 2018 to AZN 1.145 million in 2019.