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Azerbaijanâ€™s banking system decreases profit by 2.3 times

30 September 2010 15:00 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijan-based commercial banksâ€™ pretax profit made AZN 89.65 mln in January-August, 2010, down AZN 117.09 mln or by 2.3 times compared with a year ago.

CBA says the total profit with the special reserves on assets made AZN 211.54 mln, down AZN 68.87 mln or 24.6% compared with a year ago.

The cause of this is the loss in non-interest operations. So, the non-interest rate was AZN 172.22 mln, non-interest spending was AZN 283.01 mln while the interest rate was AZN 684.39 mln, interest spending was AZN 362.11 mln, net interest profit made AZN 322.28 mln and AZN 110.79 mln loss was created on the non-interest operations.

The interest profit decreased by 15.4%, non-interest loss rose by 10.6%. At the same time, interest spending increased by 20.8% while the interest income decreased by 0.5%. The growth rates of income and expenditure in non-interest operations were 1.9% and 5%.