BAKU, Azerbaijan, July 16. The net profit of Yapi Kredi Bank Azerbaijan has amounted to 4.383 million manat, or $2.57 million, by the results of the second quarter of 2024, showing an increase of 21.59 percent over the year, Trend reports.
According to the bank's financial report, its net interest profit totaled 18.73 million manat, or $11 million, driven by interest income of 21.28 million manat, or $12.5 million (up 24.27 percent year-on-year) and interest expenses of 2.55 million manat, or $1.4 million (up 115.96 percent).
Yapi Kredi Bank Azerbaijan's non-interest income rose by 22.07 percent year-on-year to 11.392 million manat, or $6.7 million, while non-interest expenses grew by 25.07 percent to 22.717 million manat, or $13.36 million.
Profit before taxes and unforeseen expenses related to banking activities amounted to 5.974 million manat, or $3.5 million, with income tax payments totaling 1.592 million manat, or $936,470.
Established in 1998, Yapi Kredi Bank Azerbaijan is owned by three Turkish companies.