17:35 - 2.06.2025

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June 2, Fineko/abc.az. NBCO Qafqaz Kredit announced its financial position for 2024.

ABC.AZ informs that last year, organization’s interest income, calculated using the effective interest rate method, amounted to 357,000 manats. Compared with 2023, this figure increased by 122,000 manats (51.9%).

Interest expenses amounted to 132 manats, which is 12 manats (8.3%) less than last year.

As a result, net interest income totaled 357,000 manats, which is 122,000 manats (51.9%) more than a year earlier.

The reserve for loan impairment amounted to 40,000 manats. This cost was not recorded in 2023. After the reserve transfers, the net interest income reached 317,000 manats. Compared with the previous year, it increased by 82,000 manats (34.9%).

Other income totaled 13,000 manats. According to these indicators, there was a declie of 2,000 manats (13.3%).

Depreciation expenses decreased by 1,000 manats (25.0%) to 3,000 manats.

The write-off costs amounted to 32,000 manats, but this figure was not registered in 2023.

As a result, Qafqaz Kredit made net profit of 54,000 manats in 2024 (14,000 manats (35.0%) more than a year earlier).

Other total income for the year reduced by 17,000 manats (48.6%) compared with 2023, to 18,000 manats.

The total cumulative profit lowered by 4,000 manats (5.3%) versus 2023 to 71,000 manats.