...

Azerbaijan's Xalq Bank sees increase in profit for 1Q2022

Finance Materials 25 April 2022 10:55 (UTC +04:00)
Azerbaijan's Xalq Bank sees increase in profit for 1Q2022
Kamran Gasimov
Kamran Gasimov
Read more

BAKU, Azerbaijan, April 25. Azerbaijan’s Xalq Bank completed 1Q2022 with net profit of 7 million manat ($4.1 million), while this figure in same period last year amounted to 4.7 million manat ($2.7 million), Trend reports citing financial report of bank.

Profit of Xalq Bank for the year decreased by 48.77 percent.

According to bank's report, net interest income amounted to 19.04 million manat ($11.2 million). It was formed at expense of interest income of 24.45 million manat ($14.38 million, increase of 1.1 percent over the year) and interest expenses of 5.4 million manat ($3.1 million, increase of 23.4 percent over the year).

Non-interest income of Xalq Bank amounted to 5.2 million manat ($3.05 million, increase of 272.5 percent over the year).

Non-interest expenses of bank reached 13.8 million manat ($8.11 million, increase of 6.49 percent over the year) as of March 31, 2022.

Profit before taxes and unforeseen expenses related to banking activities amounted to 8.3 million manat ($4.8 million), having increased by 35.25 percent over the year.

According to results of 1Q2022, income tax paid by bank amounted to 1.35 million manat ($794,100).

Xalq Bank completed 1Q2022 with net profit of 7 million manat ($4.1 million).

Tags:
Latest

Latest