BAKU, Azerbaijan, October 24. Azerbaijan’s AFB Bank completed the third quarter of 2022 with a net profit of 11.45 million manat ($6.74 million), Trend reports on October 24 via the bank’s financial report.
According to the bank’s report, its net interest income for the reporting period was 11.09 million manat ($6.52 million). It was formed by interest income of 13.09 million manat or $7.7 million (growth of 3.22 percent over the year) and interest expenses of 1.99 million manat ($1.17 million).
Meanwhile, AFB Bank’s non-interest income amounted to 7.9 million manat or $4.6 million (annual growth of 32.96 percent).
The bank’s non-interest expenditures as of October 1, 2022, as well as its profit before tax and contingencies related to the banking activities reached 11.4 million manat ($6.7 million)
Target reserves to ensure possible losses of the bank equaled 3.88 million manat ($2.28 million).
