BAKU, Azerbaijan, January 27. Azerbaijan's Unibank completed the fourth quarter of 2022 with a net profit of 557,000 manat ($327,650), while in 2021 this rate totaled 4.6 million manat ($2.7 million), Trend reports citing the bank's financial report.
Thus, Unibank's net profit decreased by 88.12 percent over the year.
According to the report, the bank's net interest income amounted to 104.7 million manat ($61.5 million), formed of interest revenues of 163.02 million manat, or $95.8 million (growth of 34.44 percent) and interest expenses of 56.07 million manat ($32.9 million).
Unibank's non-interest income totaled 69.6 million manat, or $40.9 million (growth of 74.85 percent), while its non-interest expenses reached 149.8 million manat ($88.1 million).
Targeted reserve deductions to ensure possible losses amounted to 23.5 million manat ($13.8 million).
Profit before tax and contingency related to banking activities made up 948,000 manat ($557,647), while income tax payments – 392,000 manats ($230,590).
Thus, Unibank completed the fourth quarter of 2022 with a net profit of 557,000 manat ($327,650).
The bank's total assets increased by 38.7 percent, or 401.9 million manat ($236.4 million) in the fourth quarter of 2022 compared to the same period in 2021 - to 1.44 billion manat ($847 million), total liabilities by 41.97 percent - to 1.3 billion manat ($805.8 million), and total capital by 9.25 percent - to 113.3 million manat ($66.6 million).
