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Azerbaijan's Kapital Bank completes 1Q2022 with profit

Finance Materials 19 April 2022 13:19 (UTC +04:00)
Azerbaijan's Kapital Bank completes 1Q2022 with profit
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 19. Azerbaijan's Kapital Bank ended 1Q2022 with a net profit of 50.4 million manat ($29.6 million), while this figure in the same period last year amounted to 55.5 million manat ($32.6 million), Trend reports citing the bank's financial report.

Profit of Kapital Bank decreased by 9.24 percent on an annual basis.

According to the bank's report, its net interest income amounted to 120.8 million manat ($71.05 million) and it was formed at the expense of interest income in the amount of 139.9 million manat ($82.3 million - growth by 25.22 percent over the year) and interest expenses by 19.1 million manat ($11.2 million - growth by 25.58 percent over the year).

Non-interest income of Kapital Bank amounted to 87.7 million manat ($51.6 million - increase of 49.32 percent over the year). Non-interest expenses of the bank reached 103.6 million manat ($61 million - increase of 60.36 percent over the year) as of March 31, 2022.

Profit before taxes and unforeseen expenses related to banking activities amounted to 66.08 million manat ($38.8 million), having decreased by 4.8 percent over the year.

According to the results of 1Q2022, the income tax paid by the bank amounted to 15.6 million manat ($9.1 million).

The bank completed the 1Q2022 with a net profit of 50.4 million manat ($29.6 million).

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