BAKU, Azerbaijan, October 21. Azerbaijani Rabitabank completed the third quarter of 2022 with a net profit of 12.6 million manat or $7.4 million (growth over the year by 91.32 percent), Trend reports citing bank’s financial report.
According to Rabitabank, its net interest income was 35.14 million manat ($20.6 million) for the third quarter of this year. It was formed by interest income of 49.2 million manat or $28.9 million (growth of 24.08 percent) and interest expenses of 14.06 million manat ($8.2 million).
The non-interest income of Rabitabank amounted to 34.9 million manat or $20.5 million (annual growth of 68.61 percent), while non-interest expenditures reached 54.5 million manat ($32 million).
The deduction of targeted reserves from the bank's portfolio to ensure possible losses amounted to 2.83 million manat ($16.6 million)
Profit before tax and unforeseen expenses related to banking activities amounted to 12.6 million manat ($7.4 million).