BAKU, Azerbaijan, April 18. Azerbaijan's Rabitabank completed the first quarter of 2023 with a net profit of 5.079 million manat ($2.987 million), while this figure in the same period of last year amounted to 5.073 million manat ($2.984 million), Trend reports with reference to the bank's financial report.
Therefore, the bank's profit for the year grew by 0.13 percent.
According to the bank's report, its net interest profit reached 13.9 million manat ($8.1 million). It was formed at the expense of interest income of 20.3 million manat ($11.9 million) with an increase of 31.77 percent in a year, as well as due to interest expenses of 6.3 million manat ($3.7 million).
Moreover, Rabitabank's non-interest income amounted to 10.6 million manat ($6.2 million) with a growth of 5.24 percent per year, while non-interest expenses of the bank reached 19.6 million manat ($11.5 million).
Rabitabank completed the fourth quarter of 2022 with a net profit of 11.18 million manat ($6.58 million). According to the bank, this figure amounted to 2.7 million manat ($1.59 million) in 4Q2021.