BAKU, Azerbaijan, April 18. PASHA Bank completed the first quarter of 2023 with a net profit of 42.2 million manat ($24.8 million), while this figure in the same period of 2022 was 38.3 million manat ($22.5 million), Trend reports with reference to the bank's financial report.
PASHA Bank's profit for the year grew by 10.19 percent.
According to the bank report, its net interest profit amounted to 82.7 million manat ($48.6 million) and was formed due to interest income of 100.7 million manat ($59.2 million) with an increase of 40.98 percent over the year and interest expenses of 12.8 million manat ($7.5 million).
At the same time, PASHA Bank's non-interest income totaled 29.6 million manat ($17.4 million) with an increase of 12.89 percent in a year, while its non-interest expenses reached 42.1 million manat ($24.7 million).
Meanwhile, the deduction of target reserves to ensure possible losses amounted to 5.3 million manat ($3.1 million).
Furthermore, profit before taxes and unforeseen expenses related to banking activities totaled 54.8 million manat ($32.2 million), while income tax payments reached 12.5 million manat ($7.3 million).