IBA reports about a rise of operating expenses


July 29, Fineko/abc.az. The IBA has published the report for the first half of 2021.

ABC.AZ reports that Bank's interest income on loans given to customers for Jan-Jun 2021 increased by AZN 16.687 million and interest income on securities by AZN 11.879 million.

Compared with the same term of 2020, IBA’s operating expenses (total interest and non-interest expenses) increased by AZN 22.85 million against the growth of operating income (interest and non-interest income) by AZN 52.128 million in 2021.

In other words, the growth of income exceeded the growth of expenses more than 2-fold.

As a result, IBA's operating profit increased by AZN 29.276 million up to AZN 164.374 million. For the first 6 months of 2020 IBA's operating profit amounted to AZN 135.97 million.