BAKU, Azerbaijan, April 26. Azerbaijan's AccessBank completed 1Q2022 with a net profit of 803,000 manat ($472,300), while the same figure in the same period last year amounted to 135,000 manat ($79,400), Trend reports citing AccessBank.
AccessBank's profit increased by 494.81 percent for the year.
According to the bank's report, net interest income amounted to 17.4 million manat ($10.2 million). It was formed at expense of interest income of 30.6 million manat ($18 million, an increase of 35.6 percent over the year) and interest expenses of 13.2 million manat ($7.7 million, an increase of 26.9 percent over the year).
AccessBank’s non-interest income amounted to 1.8 million manat ($1.05 million, an increase of 41.1 percent over the year).
Non-interest expenses of AccessBank reached 16.9 million manat ($9.9 million, an increase of 18.6 percent over the year) as of March 31, 2022.
Profit before taxes and unforeseen expenses related to banking activities amounted to 803,000 manat ($472,300), having increased by 3.3 percent over the year.