BAKU, Azerbaijan, October 16. Azerbaijan's VTB Bank completed the third quarter of 2023 with a net profit of 8.6 million manat ($5.1 million) compared to the same period in 2022 (9.6 million manat, or $5.6 million), Trend reports.
In addition, the net profit of the bank decreased by 9.69 percent.
According to the bank's financial report, the bank's net interest profit amounted to 14.2 million manat ($8.4 million) and was formed through interest income in the amount of 20.1 million manat, or $11.8 million (an increase of 8.27 percent over the year) and interest expenses worth five million manat ($2.9 million).
The bank's non-interest income amounted to 5.5 million manat, or $3.2 million (a decrease of 49.87 percent over the year), and non-interest expenses reached 18.3 million manat ($10.8 million).
In addition, the deduction of target reserves to ensure possible losses amounted to 7.3 million manat ($4.3 million).
