BAKU, Azerbaijan, October 26. Azerbaijan’s Gunay Bank completed the third quarter of 2022 with a net profit of 616,340 manat ($362,552), Trend reports citing the bank’s financial report.
According to the report, the net interest profit of the bank in the reporting period equaled 2.59 million manat ($1.5 million). It was formed by an interest income of 11.2 million manat or $6.5 million (growth of 5.96 percent over the year) and interest expenses of 8.6 million manat ($5 million).
Meanwhile, the non-interest income of Gunay Bank amounted to 5.8 million manat or $3.4 million (year-on-year increase of 3.13 percent), and its non-interest expenditures reached 7.02 million manat ($4.1 million) as of September 30, 2022.
The deduction of the bank’s targeted reserves to ensure possible losses amounted to 619,670 manat ($364,511).
The bank’s profit before payment of tax and unforeseen expenses related to banking activities settled at 803,140 manat ($472,435), whereas income tax payments were -186,800 manat ($109,882).
Thus, Gunay Bank completed the third quarter of 2022 with a net profit of 616,340 manat ($362,552).
