BAKU, Azerbaijan, October 21. Azerbaijan’s Xalq Bank OJSC completed 3Q2020 with a profit of 19.9 million manat ($11.7 million), Trend reports citing the bank’s financial report.
According to the bank report, net interest income amounted to 64.1 million manat ($37.7 million). It was formed due to interest incomes in the amount of 80.9 million manat or $47.5 million (increase by 16.14 percent over the year) and interest expenses decreased in the amount of to 16.8 million manat ($9.8 million).
Non-interest income of the bank amounted to 14.4 million manat (or $8.4 million, increase by 63.82 percent), while non interest expenses amounted to 44.5 million manat or $26.1 million as of September 30,2022
Profit before tax and unforeseen expenses related to banking activities amounted to 24 million manat ($14.1 million), profit tax payments – 4.07 million manat ($2.3 million).
Thus, Xalq Bank completed the third quarter of 2022 with a net profit of 19.9 million manat ($11.7 million).