BAKU, Azerbaijan, July 20. Azerbaijan’s Nakhchivanbank completed the second quarter of 2022 with a net profit of 7.8 million manat ($4.5 million), Trend reports citing the bank’s financial report.
According to the bank’s report, its net interest income for the second quarter of 2022 was 8.9 million manat ($5.2 million).
It was formed by interest income of 9.5 million manat or $5.6 million (growth of 49.44 percent) and interest expenses of 539,200 manat ($317,000).
Nakhchivanbank’s non-interest income amounted to 3.006 million manat or $1.7 million (annual growth of 35.05 percent).
The bank’s non-interest expenditures reached 3.7 million manat ($2.1 million) on July 1, 2022.
The provision for the creation of a special reserve to cover possible losses on assets amounted to 360,900 manat ($212,000).
Profit before tax and banking expenses amounted to 7.8 million manat ($4.5 million).
Nakhchivanbank completed the second quarter of 2022 with a net profit of 7.8 million manat ($4.5 million).