OREANDA-NEWS. July 28, 2008. Earnings of the International Bank of Azerbaijan (IBA) in the first half of 2008 grew by 59% year-on-year (versus the figure by July 1, 2007) and 2,16 fold against the index by April 1, 2008, reported the press-centre of IBA.

The IBA informs that by July 1, 2008 its received AZN 183,166 million of proceeds versus AZN 84,812 million by April 1, 2008 and AZN 115,174 million by July 1, 2007. Thus, returns of AZN 98,354 million were received in the 2nd half of 2008 that is by 16% more against the first quarter’s indicator.

By July 1, 2008 Bank’s expenditures reached AZN 131,774 million versus AZN 59,995 million by April 1, 2008 and AZN 85,103 million by July 1, 2007. Thus, in the 2nd quarter of 2008 IBA directed AZN 71,779 million for expenditures that is by 19,6% more against the first quarter’s indicator.

“Our profit by July 1 made AZN 51,392 million versus AZN 24,817 million by April 1, 2008 and AZN 30,07 by July 1, 2007 and net profit AZN 38,491 million against AZN 18,735 million and AZN 22,151 million respectively,” a Bank’s source says.

In the 2nd quarter alone Bank’s profit totaled AZN 26,575 million and topped the first quarter’s index by 7,08%, while net profit made AZN 19,756 million (+5,45%).