BAKU, Azerbaijan, April 25. Ziraat Bank Azerbaijan completed 1Q2022 with a net profit of 2.05 million manat ($1.2 million), while this figure in the same period last year amounted to 492,500 manat ($289,700), Trend reports citing the bank's financial report.
The profit of Ziraat Bank Azerbaijan increased by 316.3 percent over the year.
According to the bank’s report, net interest income amounted to 4.2 million manat ($2.4 million). It was formed at the expense of interest income of 7.1 million manat ($4.1 million, an increase of 28.01 percent over the year) and interest expenses of 1.6 million manat ($967,600, a decrease of 7.3 percent over the year).
Non-interest income of Ziraat Bank Azerbaijan amounted to 3.08 million manat ($1.8 million, a growth of 98.8 percent over the year). Non-interest expenses of the bank reached 3.5 million manat ($2.06 million, an increase of 12.6 percent over the year) as of March 31, 2022.
Profit before taxes and unforeseen expenses related to banking activities amounted to 2.05 million manat ($1.2 million) having increased by 316.3 percent over the year.
Ziraat Bank Azerbaijan completed 1Q2022 with a net profit of 2.05 million manat ($1.2 million).