BAKU, Azerbaijan, October 16. The net profit of Azerbaijan's Expressbank OJSC amounted to 10 million manat, or $5.9 million from January through September 2023 (a decrease of 11.3 percent over the year), Trend reports.
The profit amounted to 11.2 million manat ($6.6 million) in the same period last year.
According to the bank's financial report, its net interest profit amounted to 30.9 million manat ($18.2 million). This amount was obtained from the expense of interest income worth 42.2 million manat, or $24.8 million (an increase of 18.51 percent over the year) and interest expenses worth 11.3 million manat ($6.6 million).
In addition, Expressbank's non-interest income amounted to 14 million manat, or $8.2 million (an increase of 2.93 percent over the year). Non-interest expenses of the bank reached 31.4 million manat ($18.5 million).
The deduction of target reserves to ensure possible losses amounted to one million manat ($588,235).
