BAKU, Azerbaijan, October 25. Azerbaijan's Turan Bank completed the third quarter of 2022 with a net profit of 2.14 million manat ($12.5 million), Trend reports citing the bank's financial report.
According to the bank's report, its net interest income amounted to 16.5 million manat ($9.7 million) and was formed at the expense of interest income of 44.5 million manat or $26.1 million (an increase of 47.59 percent over the year) and interest expenses of 25.5 million manat ($15 million).
Bank’s non-interest income amounted to 10.2 million manat or $6 million (an increase of 2.36 times over the year), while non-interest expenses reached 21.2 million manat ($12.4 million) as of September 30,2022.
The deduction of targeted reserves to ensure possible losses amounted to 3.3 million manat ($1.9 million).
Profit before taxes and unforeseen expenses related to banking activities amounted to 2.1 million manat ($1.2 million).