15:58 - 5.05.2023

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May 5, Fineko/abc.az. Bank Avrasiya completed the first quarter of 2023 (January-March) with net profit of AZN 1.555 million (AZN 763,000 for Q1 of 2022).

ABC.AZ reports that thus, the bank’s net profit for Q1 of 2023 was more than 2-fold higher against Q1 of 2022.

Growth of bank's net profit is conditioned by increase in interest income and the non-allocation of funds to target reserves created for interest-bearing liabilities.

In the 1st quarter of 2023, Bank Avrasiya’s total operating income (interest and non-interest income) amounted to AZN 4.433 million.

The bank received total operating profit of AZN 3.566 million in the 1st quarter of last year. Thus, the total operating profit of Bank Avrasiya increased by AZN 867,000.