PASHA Bank Turkey`s profit decreased - Report


May 31, Fineko/abc.az. The results of Pasha Bank's subsidiary in Turkey for the first quarter of 2020 have been published.

ABC.AZ informs with reference to the Bank's report that Pasha Bank Turkey's interest income and expenses decreased in the first quarter.

Thus, while the Bank's interest income lowered by 24.5% to 28.2 million liras and interest expenses by 13.2% to 10.4 million liras.

As a result, Bank's net interest income declined almost by 30% to 17.85 million liras. Bank's operating profit, including commission fees, trading activities and other income, was 23 million liras. Taking into account the created reserves (1.975 million liras), wages (4.559 million liras) and other expenses (5.585 million liras), Pasha Bank Turkey's profit before tax was 10.894 million liras, and after taxation of 2.417 million liras the net profit totaled 8.477 million liras. For comparison, this is by 4.3 million liras or 33.8% less against the same period of 2019.