Günay Bank reports loss for 2nd quarter


July 27, Fineko/abc.az. Günay Bank suffered losses in the 2nd quarter of 2021 (April-June). Thus, the net profit for the first 3 months of 2021 amounted to AZN 878,900 and for the first 6 months of the year it fell to AZN 626,400.

ABC.AZ reports that this is stated in Bank's quarterly financial report.

This means that between April and June 2021 Günay Bank lost AZN 252,500.

Bank's interest income for the 1st half of 2021 reached AZN 7.02 million, interest expenses AZN 4.41 million, non–interest income AZN 3.88 million and non-interest expenses AZN 4.78 million. This means that the Bank received operating profit of AZN 1.71 million. Taking into account that the operating profit for the first 3 months amounted to AZN 1.4 million, we see that for Q2 it reached AZN 310,000.

The Bank made transfers to the reserve for possible losses for AZN 1.08 million (in the 1st quarter – AZN 520,000).