Azerbaijan-based banks see decline in profit year-on-year

Baku. Vahab Rzayev – APA-Economics. Azerbaijan-based commercial banks posted the total pretax profit at AZN 59,94 million in January-April, 2010, down 1.9 times or AZN 55.41 mln from a year ago, said Central Bank of Azerbaijan.
With AZN 48,68 million worth of deductions for reserves included, the banks’ total profit made AZN 108,62 million, down 26.4% or AZN 38.89 million from year ago.
For this period, interest incomes reached AZN 340,77 million and interest expenses AZN 177,07 million while non-interest incomes stood at AZN 81,35 million and non-interest expenses AZN 136,13 million.
As a result, net interest profit was AZN 163,7 million and net loss was AZN 54,78 million.
With AZN 48,68 million worth of deductions for reserves included, the banks’ total profit made AZN 108,62 million, down 26.4% or AZN 38.89 million from year ago.
For this period, interest incomes reached AZN 340,77 million and interest expenses AZN 177,07 million while non-interest incomes stood at AZN 81,35 million and non-interest expenses AZN 136,13 million.
As a result, net interest profit was AZN 163,7 million and net loss was AZN 54,78 million.
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