BAKU, Azerbaijan, Jan. 26
By Nazrin Israfilova – Trend:
The net profit of the Azerbaijani Rabitabank increased by 25 percent, or 545,000 manat ($320.7), and amounted to 2.725 million manat ($1.6 million), while at the end of 2020 the net profit totaled 2.18 million manat ($1.2 million), Trend reports citing the bank's financial report.
During this period, Rabitabank's gain was formed at the expense of interest income in the amount of 54.031 million manat ($31.7 million), which is 17 percent more compared to 2020, and at the cost of non-interest income by 29.56 million manat ($17.3 million), which is 111.8 percent more than in 2020.
According to the report, the bank's interest expenses in 2021 increased by 22.9 percent, up to 14.225 million manat ($8.3 million), and non-interest expenses – by 65.7 percent, up to 50.595 million manat ($29.7 million).
Rabitabank’s profit before taxes and unforeseen expenses related to banking activities amounted to 3.722 million manat ($2.1 million) in 2021.
