BAKU, Azerbaijan, April 21. Azerbaijan’s AzerTurkBank ended the 1Q2022 with a net profit of 226,000 manat ($132,900), while this figure in the same period last year amounted to 520,000 manat ($305,800), Trend reports citing the bank's financial report.
AzerTurkBank's profit for the year decreased by 56.54 percent, the report said.
According to the bank's report, its net interest income amounted to 4.4 million manat ($2.6 million). It was formed at the expense of interest income of 6.6 million manat ($3.9 million, an increase of 34.57 percent over the year) and interest expenses of 2.1 million manat ($1.2 million, an increase of 56.22 percent over the year).
Non-interest income of AzerTurkBank amounted to 3.1 million manat ($1.8 million, an increase of 52.76 percent over the year). Non-interest expenses of the bank reached 7.6 million manat ($4.4 million, an increase of 55.4 percent over the year) as of March 31, 2022.
Profit before taxes and unforeseen expenses related to banking activities amounted to 226,000 manat ($132,900), has decreased by 56.54 percent over the year.
AzerTurkBank completed the 1Q2022 with a net profit of 226,000 manat ($132,900).