BAKU, Azerbaijan, July 27. Azerbaijan's PASHA Bank completed the second quarter of 2022 with a net profit of 64.844 million manat ($38.18 million), while this figure was 50.64 million manat ($29.8 million) in the same period of 2021, Trend reports citing the bank's financial report.
Thus, the bank's profit increased by 28.05 percent year-on-year.
According to the report, the bank's net interest income amounted to 120.78 million manat ($71.1 million), formed of interest revenues of 145.8 million manat, or $85.8 million (growth of 13.2 percent) and interest expenses of 25.044 million manat ($14.7 million).
PASHA Bank's non-interest income totaled 78.025 million manat, or $45.9 million (growth of 30.36 percent), while its non-interest expenses reached 103.644 million manat ($61.03 million).
Targeted reserve deductions to ensure possible losses amounted to 9.114 million manat ($5.3 million).
Profit before tax and contingency related to banking activities made up 86.047 million manat ($50.6 million), while income tax payments – 21.203 million manat ($12.48 million).
Thus, PASHA Bank disclosed a net profit of 64.844 million manat ($38.18 million) for the second quarter of 2022.