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Khan Bank Q1 net profit drops 66.2% YOY

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Khan Bank Q1 net profit drops 66.2% YOY

Khan BankLLC's net profit for the first quarter plummeted 66.2% year overyear.

The bank posted net profit after tax of 9.46 billion tugrik,down from 27.99 billion tugrik in the prior-yearperiod.

Net interest income for the quarter totaled 62.26 billiontugrik. Provision expenses for the quarter stood at 12.72 billion tugrik.

Other income for the quarter totaled 32.39 billion tugrik.

As of the end of the period, the bank's capital adequacyratio stood at 23.0%, compared to 19.4% in the prior-year period. The Tier 1capital ratio was at 15.8% as of March 31.

As of April 29, US$1was equivalent to 2,013 Mongolian tugrik.