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Central Bank of Azerbaijan: Banks should be more active in non-interest operations

04 September 2009 11:37 (UTC +04:00)

Baku. Vahab Rzayev - APA-ECONOMICS. According to statistics, Azerbaijan-based commercial banksâ€™ non-interest expenses exceed non-interest income, said Elman Rustamov, chairman of the Central Bank of Azerbaijan.

â€œThere are two reasons, objective and subjective reasons. The objective factor is that some business entities have low demand for some banking services, and businesses and individuals carry out financial operations outside the banks. On the other side, we must recognize the fact that banking services not related to deposits and loans remain underdeveloped.

Non-interest income is generated from trading in foreign currency, securities and investments, leasing, remittances, opening accounts, fees for various services.

Elman Rustamov added that the fact that banks make losses from non-interest operations significantly increases the dependence of their profit-making and financial performance only on the loan portfolio.

Accordign to the data available, the banks spent some of their profits from lending activities to cover losses from non-interest operations.

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Central Bank of Azerbaijan: Banks should be more active in non-interest operations

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