BAKU, Azerbaijan, January 12. Net profit of Azerbaijan's Expressbank OJSC amounted to 12.015 million manat or $7.06 million in 2023 (3.17 percent decrease over the year), Trend reports, referring to the bank's financial report.
In 2022, the bank's profit was 12.408 million manat, or $7.29 million.
According to the bank's financial report, net interest income totaled 42.154 million manat, or $24.79 million. It was generated by interest revenue of 57.67 million manat, or $33.3 million, up 19.51 percent year on year, and interest expenses of 15.516 million manat, or $9.1 million.
Expressbank's non-interest income was 18.96 million manats ($11.15 million), up 2.83 percent year on year. The bank's non-interest expenses was 42.571 million manat, or $26.8 million.
The deduction of target reserves to cover potential losses totaled 2.656 million manat, or $1.56 million.
Pre-tax profit and contingencies related to banking activities amounted to 15.886 million manat or $9.34 million, and income tax payments amounted to 3.871 million manat or $2.27 million.
