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Azerbaijan's Ziraat Bank discloses net profit for 2021

Finance Materials 27 January 2022 13:30
Azerbaijan's Ziraat Bank discloses net profit for 2021

BAKU, Azerbaijan, Jan. 27

By Nazrin Israfilova – Trend:

Azerbaijan’s Ziraat Bank completed 2021 year with the net profit worth 7.033 million manat ($4.1 million), which is 233.1 percent, or 4.922 million manat ($2.8 million) more than in 2020, Trend reports citing the bank's financial report.

During this period, the bank's gain was formed at the expense of interest income in the amount of 25.326 million manat ($14.9 million), which is 44.83 percent more compared to 2020, and at the cost of non-interest income by 8.178 million manat ($4.8 million), which is 22 percent more than in 2020.

According to the report, Ziraat Bank's interest expenses in 2021 increased by 23.8 percent, up to 7.431 million manat ($4.3 million), and non-interest expenses – by 27.5 percent, up to 13.399 million manat ($7.8 million).

Ziraat Bank’s profit before taxes and unforeseen expenses related to banking activities amounted to 8.791 million manat ($5.1 million) in 2021.

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