BAKU, Azerbaijan, October 13. Net profit of Ziraat Bank Azerbaijan JSC amounted to 6.4 million manat ($3.7 million) from January through September 2023, while in the same period last year net profit amounted to 6.1 million manat ($3.5 million), Trend reports via the bank's financial report.
Thus, the bank's net profit grew by 3.76 percent year-on-year.
According to the bank's report, its net interest profit amounted to 22.3 million manat ($13.1 million). It was formed by interest income of 31.2 million manat or $18.3 million (year-on-year growth of 54.2 percent) and interest expenses of 8.8 million manat ($5.1 million).
The bank's non-interest income amounted to 10.9 million manat or $6.4 million (17.83 percent growth for the year). Non-interest expenses reached 9.3 million manat ($5.4 million).
Deduction of target reserves to ensure possible losses amounted to 11.6 million manat ($6.8 million).
The Central Bank of Azerbaijan issued a banking license to Ziraat Bank Azerbaijan on December 30, 2014.
