BAKU, Azerbaijan, October 13. The net profit of Azerbaijan’s Bank Avrasiya increased by 3.6 times from January through September 2023 on an annual basis, Trend reports via the financial report of the bank.
The bank's report shows that this figure amounted to 3.9 million manat ($2.29 million manat) against 1.09 million manat ($640,000) in the third quarter of 2022.
The net interest profit of the bank made up 9.25 million manat ($5.4 million) from January through September this year. It was formed out of an interest income of 12.2 million manat, or $7.18 million (an increase of 32.39 percent over the year), and interest expenses of 2.5 million manat ($1.47 million).
Bank Avrasiya's non-interest income stood at 2.05 million manat, or $1.2 million (an increase of 0.3 percent over the year), while non-interest expenses reached 5.8 million manat, or $3.4 million.
The deduction of targeted reserves to ensure possible losses amounted to 1.5 million manat ($880,000).
As of October 1, 2023, the bank’s total assets decreased by 1.6 percent to 202.2 million manat ($118.9 million) compared to the same period in 2022.
In the reporting period, total liabilities of the bank lowered by 6.1 percent to 124.48 million manat ($73.2 million).
The net profit of Bank Avrasiya was 1.5 million manat ($880,000) and 2.27 million manat ($1.5 million) in the first and second quarters of this year, respectively.
In 2022, this figure amounted to 1.8 million manat ($1.06 million).
