BAKU, Azerbaijan, October 26. Azerbaijan's Muganbank OJSC has completed the third quarter of 2022 with a net profit of 703,060 manat ($412,981), Trend reports citing the bank's financial report.
According to the report, the bank's net interest income amounted to 3.06 million manat ($1.79 million), formed of interest revenues of 28.867 million manat, $16.95 million (growth of 41.87 percent) and interest expenses of 25.807 million manat ($15.158 million).
As of September 30, 2022, the non-interest income of the bank reached 33.899 million manat, $19.9 million (a rise of 53.69 percent), while non-interest expenses stood at 23.86 million manat ($14.015 million).
Reserves for possible losses totaled 12.39 million manat ($7.27 million).
Profit before tax and contingency related to banking activities made up 703,060 manat ($412,981).