BAKU, Azerbaijan, July 25. Azerbaijan's Turan Bank completed the second quarter of 2022 with a net profit of 1.7 million manat ($1 million), Trend reports citing the bank's financial report.
According to the bank's report, its net interest income amounted to 10.8 million manat ($6.3 million) and was formed at the expense of interest income of 28.2 million manat or $16.5 million (an increase of 45.8 percent over the year) and interest expenses of 16.4 million manat ($9.6 million).
Bank’s non-interest income amounted to 5.5 million manat or $3.2 million (an increase of 2.3 times over the year).
Turan Bank’s non-interest expenses reached 13.1 million manat ($7.7 million).
The deduction of targeted reserves to ensure possible losses amounted to 1.4 million manat ($823,500).
Profit before taxes and unforeseen expenses related to banking activities amounted to 1.7 million manat ($1 million).
