BAKU, Azerbaijan, January 14. The net profit of Azerbaijan's AFB Bank amounted to 7.65 million manat ($4.47 million) in 2023 (a decrease of 29.69 percent over the year), Trend reports.
According to the bank's financial report, its net interest profit amounted to 17.17 million manat ($10.04 million). It was formed at the expense of interest income of 22.16 million manat, or $12.95 million (an increase of 21.51 percent over the year), and interest expenses of 4,989 manat ($2,916).
In addition, AFB Bank's non-interest income amounted to 8.16 million manat, or $4.77 million (a decrease of 28.4 percent over the year). The bank's non-interest expenses reached 18.74 million manat ($10.95 million) over the year.
Profit before taxes and unforeseen expenses related to banking activities amounted to 10.1 million manat ($5.9 million).
In general, AFB Bank started its activity in 2008 under the name Azfinansbank, and rebranded in 2009. Its authorized capital is 70.39 million manat ($41.15 million).
