BAKU, Azerbaijan, July 25. Azerbaijan’s Gunay Bank completed the second quarter of 2022 with a net profit of 88,340 manat ($51,960), Trend reports citing the bank’s financial report.
According to the report, net interest profit of the bank in the reporting period equaled 1.95 million manat ($1.15 million). It was formed by interest income of 7.2 million manat or $4.2 million (growth of 3.46 percent over the year) and interest expenses of 5.3 million manat ($3.1 million).
Meanwhile, non-interest income of Gunay Bank amounted to 3.3 million manat or $1.9 million, and its non-interest expenditures reached 4.7 million manat ($2.7 million).
The deduction of the bank’s targeted reserves to ensure possible losses amounted to 265,820 manat ($156,360).
The bank’s profit before payment of tax and contingencies on banking activity settled at 275,140 manat ($161,850), and 186,800 manat were paid out for profit tax.