15:54 - 15.07.2024

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July 15, Fineko/abc.az. Rabitabank OJSC completed the 1st half of 2024 (January-June) with net profit of 10.596 million manats.

ABC.AZ reports that the bank finished the 2023 same term with net profit of 10.38 million manats. Thus, Rabitabank's net profit for the first 6 months of 2024 increased by 214,000 manats or 2.1% against Jan-Jun 2023.

Rabitabank's total operating income (interest and interest-free income) increased by 16.8 million manats or 25% up to 80.38 million manats, and total operating expenses (interest and interest-free expenses) by 11.786 million manats or 22% up to 65.199 million manats. As revenues increased more than expenses, bank's operating profit grew by 4.295 million up to 15.18 million manats (10.887 million manats in the first 6 months of 2023).

In addition, over Jan-Jun 2024, the bank allocated 4.586 million manats from operating profit to target reserves created for possible losses (506,000 manats for Jan-Jun 2023).