BAKU, Azerbaijan, July 25. Ziraat Bank Azerbaijan completed the second quarter of 2022 with a net profit of 3.8 million manat ($2.2 million), while this figure amounted to 1.9 million manat ($1.1 million) in the same period last year, Trend reports citing the bank's financial report.
Therefore, the profit of Ziraat Bank Azerbaijan increased by 98.6 percent over the year.
According to the bank's report, its net interest income amounted to 10.3 million manat ($6.05 million) and was formed from interest income of 14.7 million manat or $8.6 million (an increase of 26.5 percent over year) and interest expenses of 3.2 million manat ($1.8 million).
Non-interest income of Ziraat Bank Azerbaijan amounted to 6.02 million manat or $3.5 million (89.1 percent growth over a year).
Bank’s non-interest expenses reached 7.5 million manat ($4.4 million).
Deduction of targeted reserves to ensure possible losses amounted to 5.02 million manat ($2.9 million).
