BAKU, Azerbaijan, April 26. Azerbaijan’s Expressbank completed 1Q2022 with a net profit of 3.5 million manat ($2.05 million), while the same figure in the same period last year amounted to 3.1 million manat ($1.8 million), Trend reports citing Expressbank.
Expressbank's profit for the year increased by 12.1 percent.
According to bank's report, net interest income amounted to 9.4 million manat ($5.5 million). It was formed at expense of interest income of 11.8 million manat ($6.9 million, increase of 27.3 percent over the year) and interest expenses of 2.3 million manat ($1.3 million, increase of 54.9 percent over the year).
Non-interest income of Expressbank amounted to 3.3 million manat ($1.9 million, increase of 0.97 percent over the year). Non-interest expenses of Expressbank reached 9.4 million manat ($5.5 million, increase of 18.7 percent over the year) as of March 31, 2022.
Profit before taxes and unforeseen expenses related to banking activities amounted to 4.3 million manat ($2.5 million), having increased by 15.7 percent over the year.
According to the results of 1Q2022, income tax paid by Expressbank amounted to 827,000 manat ($486,400).
