BAKU, Azerbaijan, January 25. VTB Bank (Azerbaijan) has finished the fourth quarter of 2022 with a net profit of 11.9 million manat ($6.99 million), Trend reports citing the bank's financial report.
According to the report, this figure increased 2.82 times compared to the same period in 2021 (4.2 million manat, $2.46 million)
The bank's net interest income amounted to 16.3 million manat ($9.47 million), formed of interest revenues of 24.9 million manat, $14.6 million (growth of 40.85 percent) and interest expenses of 7.76 million manat ($4.55 million).
The non-interest income of the bank reached 14.3 million manat, $8.4 million (a year-over-year rise of 98.2 percent), while non-interest expenses stood at 28.7 million manat ($16.8 million).
Appropriated reserves to ensure possible losses totaled 12.27 million manat ($7.2 million).
Profit before tax and contingency related to banking activities made up 14.18 million manat ($8.3 million), whereas income tax payments settled at 2.28 million manat ($1.3 million).
Following the outcome of 2022's fourth quarter, the bank's total assets reached 238.49 million manat ($140.09 million), up by 2.65 percent or 6.166 million manat ($3.6 million) year over year, whereas the total capital amounted to 80.2 million manat ($47.1 million), growing by 16.72 percent against the same period of 2021. Meanwhile, the total liabilities of the bank decreased by 3.26 percent, down to 158.275 million manat ($92.97 million).