Rabitabank's operating profit exceeds AZN 16 million

12:41 - 25.10.2021


October 25, Fineko/abc.az. In the period from January to September 2021 the total operating income (interest and non-interest income) of Rabitabank amounted to AZN 60.368 million and total operating expenses (interest and non–interest expenses) – AZN 43.98 million.

ABC.AZ reports that as bank's revenues exceeded expenses, the operating profit totaled AZN 16.387 million.

Of the operating profit, AZN 9.76 million were directed for target reserves created for possible losses, and the bank completed the past 9 months with net profit of AZN 6.625 million.

For comparison, for Jan-Sept 2020 the total operating income of Rabita Bank reached AZN 43.818 million, total operating expenses AZN 30.25 million, and operating profit AZN 13.567 million.

The bank completed this period with net profit of AZN 3.87 million, directing AZN 9.69 million of operating profit to the reserve.

 

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