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Azerbaijan-based banks see profit fall

05 June 2009 10:58 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijan-based commercial banks posted the total pretax profit at AZN 115.35 million for January-April 2009, down 5.5% or AZN 6.73 million on the same period last year, said Central Bank of Azerbaijan.

Of this, the banks earned AZN 55.31 million in January, AZN 24.7 million in February, AZN 870 million in March and AZN 34.47 million in April.

With AZN 32.16 million worth of deductions for reserves included, the banksâ€™ total profit made AZN 147.51 million, up 2.8% or AZN 4.04 million on the same period last year.

For this period, interest incomes reached AZN 347.20 million and interest expenses AZN 152.86 million while non-interest incomes stood at AZN 84.95 million and non-interest expenses AZN 131.63 million.

Net interest profit was AZN 194.34 million whereas non-interest loss was AZN 46.68 million.