BAKU, Azerbaijan, July 27. Bank BTB of Azerbaijan finished the second quarter of 2023 with a profit of 309,000 manat ($181,760), Trend reports.
According to the bank's report, its assets in the reporting period were 381.2 million manat ($224.2 million), a 7.6 percent increase over the same time the previous year.
Meanwhile, Bank BTB gave 38.9 million manat ($22.8 million) in loans. So, 37% were funds issued by the Azerbaijan Mortgage-Credit Guarantee Fund, 21% were consumer loans, 25% were loans to corporate organizations, and 17% were for the purchase or construction of residential real estate. Thus, BTB's loan portfolio climbed by 2.5 percent over the previous quarter to 282.27 million manat ($166 million).
In the first half of 2023, Azerbaijani banks' net profit was 563.3 million manat ($331.3 million) and their operational profit was 772.3 million manat ($454.2 million).
Banks' net and operating profits climbed by 41 percent and 26 percent, respectively, compared to the same time the previous year.
From January to June 2023, Azerbaijani banks' assets totaled more than 45.2 billion manat ($26.5 billion). To 21.2 billion manat ($12.4 billion), the banks' loan portfolio climbed by 3.1 percent (637 million manat, or $374.7 million).
The overall liabilities of the country's banks exceeded 39.3 billion manat ($23.1 billion), with a balance sheet capital of approximately 5.9 billion manat ($3.4 billion).