BAKU, Azerbaijan, January 17. Bank BTB of Azerbaijan finished 2023 with a net loss of 2.779 million manat ($1.6 million), Trend reports, referring to the bank's financial report.
According to the report, the bank's net interest profit was 11.246 million manat ($6.6 million), which was generated by interest income of 30.005 million manat ($17.6 million), up 5.81 percent year on year, and interest expenses of 18.69 million manat ($10.99 million).
The non-interest revenue of Bank BTB totaled 4.611 million manat ($2.7 million). Non-interest expenses for the bank was 13,104 million manat ($7.7 million).
The goal reserves were deducted to cover potential losses, totaling 2.246 million manat ($1.3 million).
In 2023, the bank reduced its assets by 1.3 percent to 369.155 million manat or $217.1 million, its loan portfolio (net of reserves) amounted to 268.61 million manat or $158 million (6.9 percent growth), bank liabilities - 321.791 million manat or $189.3 million (0.7 percent decline).
Bank BTB OJSC received a license for banking activity in Azerbaijan in April 2010.
