BAKU, Azerbaijan, July 20. Azerbaijan’s Bank of Baku completed the second quarter of 2022 with a net profit of 18.5 million manat ($10.8 million), up by 97.41 percent compared to the second quarter of 2021 (9.37 million manat or $5.51 million), Trend reports citing the bank’s balance sheet.
Net interest profit of the Bank of Baku for the second quarter of 2022 equaled 35.8 million manat ($21 million). It was formed by interest income of 45 million manat or $26 million (growth of 49.35 percent over the year) and interest expenses of 9.2 million manat ($5.4 million).
Meanwhile, the bank’s non-interest income amounted to 6.07 million manat or $3.57 million (annual growth of 16.29 percent), and its non-interest expenditures reached 25.16 million manat ($14.8 million).
Profit before tax and contingencies on banking activity in the second quarter of this year amounted to 22.4 million manat ($13.1 million), and payments on profit tax – 3.9 million manat ($2.3 million).