"ABB" OJSC, the largest bank of Azerbaijan, announced its financial indicators for the first half of 2022.

"APA-Economics" reports that the Bank finished the first half of this year with a net profit of 118,417 million manats.

It should be noted that IBA closed the same period of 2021 with a net profit of 148,150 million manats.

This can be seen as a decrease in the bank's net profit.

But the bank said that in the same period of last year, if the dividend amount of 40 million manats from the subsidiary is not taken into account, the net profit of IBA has increased by 10,268 million manats.

During the reporting period, the interest income of "ABB" OJSC increased by 17.8% and amounted to 253,856 million manats.

The non-interest income of the bank increased by 22,310 million manats to 81,640 million manats, excluding the one-time dividend received from the subsidiary in the corresponding period of last year.

During this period, the bank's total operating income was 335,496 million manats, total operating expenses (interest and non-interest expenses) were 160,491 million manats, and operating profit was equal to 175 million manats.

The bank allocated 35,372 million manats from the operating profit to special reserves created for possible losses.

In addition, he paid 21,216 million manats in profit tax.

As of July 1 of this year, the total assets of "ABB" OJSC increased by 5.2% and reached 12.082 billion manats.

The bank's loan portfolio (loans granted to customers) increased by 27% over the past year to 3,440 billion manats, including business loans to 1,772 billion manats.

The deposit portfolio of "ABB" OJSC increased by 10.4% and equaled 9,120 billion manats.

The total capital of "ABB" OJSC was 1.559 billion manats.

This is 8.5% more than the same period last year.

The adequacy ratio of Tier 1 capital of the bank was 18.28%, the adequacy ratio of total capital was 19.27%.