BAKU, Azerbaijan, April 27. VTB Bank Azerbaijan ended the first quarter of 2022 with a net profit, Trend reports citing the bank's financial report.
According to the report, this figure amounted to over 5.4 million manat ($3.18 million) compared to 179,000 manat ($105,290) in the first quarter of last year.
Net interest profit of VTB Bank Azerbaijan from January through March 2022 amounted to 4.3 million manat ($2.5 million). It was formed through interest income of 6.2 million manat ($3.6 million, an increase of 71.07 percent over the year) and interest expenses of 1.8 million manat ($1.1 million).
Meanwhile, the bank’s non-interest income exceeded 5.3 million manat ($3.12 million, up by 208.98 percent over the year), while non-interest expenses reached 6.2 million manat ($3.6 million).
Profit of VTB Bank Azerbaijan before taxes and unforeseen expenses related to banking activities exceeded 5.4 million manat ($3.18 million).
