BAKU, Azerbaijan, April 25. Azerbaijani Rabitabank OJSC completed 1Q2022 with net profit of 5.07 million manat ($2.98 million), while this figure amounted to 3.5 million manat ($2.05 million) in the same period last year, Trend reports citing the bank's financial report.
Rabitabank’s profit increased by 45.15 percent over the year.
According to the bank’s report, net interest income amounted to 10.9 million manat ($6.4 million). It was formed at expense of interest income of 15.4 million manat ($9.05 million, an increase of 23.7 percent over the year) and interest expenses of 4.5 million manat ($2.6 million, a decrease of 55.9 percent over the year).
Rabitabank’s non-interest income amounted to 10.07 million manat ($5.9 million, an increase of 66.1 percent over the year). Rabitabank’s non-interest expenses reached 15.3 million manat ($9 million, an increase of 59.3 percent over the year) as of March 31, 2022.
Profit before taxes and unforeseen expenses related to banking activities amounted to 5.07 million manat ($2.9 million), having increased by 45.1 percent over the year.
Rabitabank completed 1Q2022 with a net profit of 5.07 million manat ($2.9 million).