BAKU, Azerbaijan, April 21. Azerbaijan's TuranBank completed the first quarter of 2022 with a net profit of 1.013 million manat ($596,239), while in the same period of 2021, this indicator amounted to 105,000 manat ($61,801), Trend reports citing the bank's financial report.
Thus, revenues of TuranBank grew by 864.76 percent over the year.
According to the report, the bank's net gain from interest totaled 5.669 million manat ($3.3 million). It was formed by interest income worth 13.48 million manat, or $7.9 million (growth by 43.99 percent over the year) and interest expenses worth 7.8 million manat, or $4.59 million (growth by 28.29 percent over the year).
TuranBank's non-interest income made up 1.749 million manat, or $1.029 million (an increase of 79.75 percent over the year). As of March 31, 2022, non-interest expenses of the bank reached 5.902 million manat, or $3.47 million (an increase of 42.91 percent over the year).