BAKU, Azerbaijan, April 16. Azerbaijan Industrial Bank OJSC's net profit amounted to 835,400 manat ($491,410) in the first quarter of 2024, showing a year-on-year decrease of 21.42 percent, Trend reports.
According to the bank's financial report, its net interest
profit was 3.96 million manat ($2.3 million). It was made up of 8.6
million manat, or $5 million, in interest income (up 12.71 percent
from the previous year) and 4.6 million manat, or $2.7 million, in
interest expenses.
Azerbaijan Industrial Bank's non-interest income was 3.39 million
manat, or $1.99 million (a 51.78 percent rise year over year), and
its non-interest expenses hiked by 21.79 percent to 6.24 million
manat, or $3.6 million.
Pre-tax profit and contingency from banking activities were 1.07
million manat ($630,000), while income tax payments were 243,210
manat ($143,060).
To note, Azerbaijan Industrial Bank OJSC was established in 1996. The bank's assets grew by 0.2 percent to 749.24 million manat ($440.7 million) last year.
