BAKU, Azerbaijan, April 26. Yapi Kredi Bank Azerbaijan ended the first quarter of 2022 with a net profit, Trend reports citing the bank's financial report.
According to the financial report, this figure amounted to 400,100 manat ($235,350), while the first quarter of last year ended with the bank’s loss worth 122,150 manat ($71,850).
Thus, the bank's profit increased by 427.55 percent for the year.
Besides, net interest income of Yapi Kredi Bank Azerbaijan from January through March 2022 amounted to 5.4 million manat ($3.1 million). It was formed through interest income of 5.7 million manat ($3.3 million, an increase of 7.07 percent over the year) and interest expenses of 390,050 manat ($229,440, a growth of 13.39 percent on annual basis).
Meanwhile, the bank’s non-interest income exceeded 3.8 million manat ($2.2 million, up by 36.26 percent over the year), while non-interest expenses reached 7.3 million manat ($4.3 million, an increase of 6.57 percent compared to 1Q2021).
Profit of Yapi Kredi Bank Azerbaijan before taxes and unforeseen expenses related to banking activities amounted to 778,530 manat ($457,960), and profit tax paid by the bank in the first quarter of this year equaled 378,430 manat ($222,610).
