BAKU, Azerbaijan, October 26. Azerbaijan’s Expressbank completed 3Q2022 with a net profit of 11.2 million manat ($6.5 million), Trend reports citing the bank's financial report.
According to the bank's report, its net interest income amounted to 28.3 million manat ($16.6 million) and was formed at the expense of interest income of 35.6 million manat or $20.9 million (an increase of 15.78 percent over the year) and interest expenses of 7.25 million manat ($4.2 million).
Bank’s non-interest income amounted to 13.6 million manat or $8 million (an increase of 34.91 times over the year), while non-interest expenses reached 28.8 million manat ($16.9 million) as of September 30,2022.
Th targeted reserves to ensure possible losses amounted to 655,040 manat ($385,317)
Profit before tax and unforeseen expenses related to banking activities amounted to 13.7 million manat (8.05 million), profit tax payments – 2.5 manat ($1.5 million).
Thus, Expressbank completed third quarter of 2022 with a net profit of 11.2 million manat ($6.5 million).
