BAKU, Azerbaijan, October 26. VTB Bank Azerbaijan completed the third quarter of 2022 with a net profit of 9.57 million manat ($5.63 million), Trend reports on October 26 via the bank’s financial report.
According to the report, the bank’s net interest profit for the reporting period amounted to 12.2 million manat ($7.18 million) and was formed by interest income of 18.6 million manat or $10.9 million (growth of 52.55 percent over the year) and interest expenses of 5.8 million manat ($3.4 million).
Meanwhile, VTB Bank Azerbaijan’s non-interest income amounted to over 10.8 million manat or $6.3 million (annual growth of 84.37 percent), and the bank’s non-interest expenditures reached 21.86 million manat ($12.86 million).
Target reserves against the bank’s possible losses from July through September 2022 equaled 8.33 million manat ($4.9 million).
At the same time, the profit of VTB Bank Azerbaijan before tax and contingencies related to the banking activities made up 9.57 million manat ($5.63 million).
