BAKU, Azerbaijan, October 16. Azerbaijan's Azer Turk Bank has completed the third quarter of 2023 with a net profit of 10.4 million manat ($6.1 million), while this indicator totaled 3 million manat ($1.7 million) year-on-year, Trend reports.
Thus, the profit of the bank increased by 3.4 times over the year.
According to the bank's financial report, the Azer Turk Bank's net interest income amounted to 30.5 million manat ($17.9 million). It was formed by interest income of 45.5 million manat or $26.7 million (a year-on-year increase of 94.48 percent) and interest expenses of 15 million manat ($8.8 million).
The non-interest income of the bank reached 22 million manat, $12.9 million (4.8 times rise), while non-interest expenses stood at 35.8 million manat ($21 million).
Appropriated reserves to ensure possible losses totaled 3.7 million manat ($2.1 million).
Profit before tax and contingency related to banking activities made up 12.9 million manat ($7.5 million), whereas income tax payments were 2.5 million manat ($1.4 million).