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Azerbaijan's Gunay Bank finishes 4Q2022 with net profit

Finance Materials 24 January 2023 18:41 (UTC +04:00)
Azerbaijan's Gunay Bank finishes 4Q2022 with net profit
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 24. Azerbaijan's Gunay Bank has finished the fourth quarter of 2022 with a net profit of 490,370 manat ($288,583), Trend reports citing the bank's financial report.

According to the report, the bank's net interest income amounted to 3.3 million manat ($1.9 million), formed of interest revenues of 14.84 million manat, $8.7 million (growth of 6.72 percent) and interest expenses of 11.5 million manat ($6.76 million).

The non-interest income of the bank reached 9.1 million manat, $5.35 million (a year-over-year rise of 20.57 percent), while non-interest expenses stood at 10.25 million manat ($6.03 million).

Appropriated reserves to ensure possible losses totaled 1.5 million manat ($882,753).

Profit before tax and contingency related to banking activities made up 677,170 manat ($398,516), whereas income tax payments settled at 186,800 manat ($109,932).

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