International Bank of Azerbaijan (IBA) has announced its financial performance for the first half of 2022. Over the first six months the Bank gained a net profit of AZN 118.4 million. This is down by 20.1% from the same period of the last year.

In the reviewed period the IBA gained interest income of AZN 253.9 million, non-interest income of AZN 81.6 million, interest expense of AZN 35.7 million, non-interest expense of AZN 124.8 million, special provisions for overdue loans of AZN 35.4 million and profit tax of AZN 21.2 million.

From the beginning of July this year the IBA assets made up 36.4%-AZN 12,082.9 million, including net loan portfolio by 30.2%- up 3,175.7 million from early July of the last year. Liabilities of the bank made up AZN 10,523.4 million (42.7% up), including deposit portfolio – AZN 9,120.5 million (57.7% up), balance sheet capital – AZN 1,559.5 million (5.4% up), including authorized capital – AZN 1,241.3 million (no change).

Source: Turan News Agency