BAKU, Azerbaijan, April 25. Azerbaijan’s Bank Respublika ended 1Q2022 with a net profit of 6.04 million manat ($3.55 million), while this figure in the same period last year amounted to 2.87 million manat ($1.68 million), Trend reports citing the bank's financial report.
Bank Respublika's profit increased by 109.99 percent for the year.
According to the bank’s report, net interest income amounted to 18.3 million manat ($10.7 million). It was formed at expense of interest income of 29.4 million manat ($17.3 million, an increase of 60.8 percent over the year) and interest expenses of 11.09 million manat ($6.5 million, an increase of 57.8 percent over the year).
Bank’s non-interest income amounted to 6.1 million manat ($3.6 million, an increase of 30.4 percent over the year). Bank’s non-interest expenses reached 18.8 million manat as of March 31, 2022 ($11.05 million, an increase of 30.5 percent over the year).
Profit before taxes and unforeseen expenses related to banking activities amounted to 6.04 million manat ($3.55 million), has increased by 109.99 percent over the year.
Bank Respublika completed 1Q2022 with a net profit of 6.042 million manat ($3.55 million).