BAKU, Azerbaijan, October 16. Azerbaijan's Rabitabank completed the third quarter of 2023 with a net profit of 16.8 million manat ($9.9 million), while this figure amounted to 12.7 million manat ($7.5 million) in the same period last year, Trend reports.
In general, Rabitabank's profit for the year increased by 32.67 percent.
According to Rabitabank's financial report, its net interest profit amounted to 44.4 million manat ($26.1 million). This amount was obtained from interest income worth 65.7 million manat, or $38.6 million (an increase of 33.44 percent over the year) and interest expenses worth 21.3 million manat ($12.5 million).
In addition, Rabitabank's non-interest income amounted to 34.9 million manat, or 20.5 million (an increase of 0.07 percent over the year). Non-interest expenses of the bank reached 60.9 million manat ($35.8 million).
In general, profit before taxes and unforeseen expenses related to banking activities amounted to 1.6 million manat ($941.176).