BAKU, Azerbaijan, January 24. Azerbaijan's Azer Turk Bank has completed the fourth quarter of 2022 with a net profit of 11.02 million manat ($6.48 million), while this indicator totaled 546,000 manat ($321,300) in the same period of 2021, Trend reports citing the bank's financial report.
Thus, the profit of the bank increased by more than 20 times over the year.
According to the report, the bank's net interest income amounted to 24.187 million manat ($14.2 million), formed of interest revenues of 35.25 million manat, $20.7 million (growth of 58.4 percent) and interest expenses of 11.067 million manat ($6.5 million).
The non-interest income of the bank reached 33.95 million manat, $19.97 million (2.5 times rise), while non-interest expenses stood at 39.5 million manat ($23.2 million).
Appropriated reserves to ensure possible losses totaled 4.14 million manat ($2.4 million).
Profit before tax and contingency related to banking activities made up 14.475 million manat ($8.5 million), whereas income tax payments were 3.455 million manat ($2.03 million).