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Azerbaijan's Yelo Bank releases financial statements for 4Q2022

Finance Materials 27 January 2023 19:26 (UTC +04:00)
Azerbaijan's Yelo Bank releases financial statements for 4Q2022
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, January 27. Azerbaijan's Yelo Bank has finished the fourth quarter of 2022 with a net profit of 5.2 million manat ($3.05 million), Trend reports citing the bank's financial report.

According to the report, this figure decreased by 55.42 percent against the same period of 2021 (11.7 million manat, $6.88 million)

The bank's net interest income amounted to 53.8 million manat ($31.6 million), formed of interest revenues of 86.526 million manat, $50.89 million (growth of 36.07 percent) and interest expenses of 32.69 million manat ($19.2 million).

The non-interest income of the bank reached 9.87 million manat, $5.8 million (a year-over-year rise of 2.75 times), while non-interest expenses stood at 63.029 million manat ($37.07 million).

Appropriated reserves to ensure possible losses totaled 4.55 million manat ($2.67 million). Profit before tax and contingency related to banking activities made up 5.2 million manat ($3.05 million).

Following the outcome of 2022's fourth quarter, the bank's total assets reached 287.8 million manat ($169.3 million), up by 53.93 percent, whereas the total capital amounted to 76.269 million manat ($44.86 million), growing by 10.89 percent against the same period of 2021. Meanwhile, the total liabilities of the bank edged up by 60.29 percent, up to 745.266 million manat ($438.4 million).

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