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Azerbaijan-based banksâ€™ profit reaches last yearâ€™s level

02 May 2011 14:44 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijan-based commercial banksâ€™ profit made AZN 38.31 mln in January-March, 2011, AZN 0.13 mln or 0.3% from year earlier.

Note that, banksâ€™ profit was down 10.5% in comparison to a year ago and March was successful for banks from the standpoint of profit.

According to last quarter, the total profit with the special reserves on assets made AZN 63.44 mln, down 17.5% compared to a year ago.

Interest income made AZN 259.25 mln, interest expenditure â€“ AZN 140.17 mln, net interest profit - AZN 119.07 mln during the same period. At the same time the non-interest income stood at AZN 65.65 mln, non-interest expenditure â€“ AZN 121.32 mln. Thus, the loss on non-interest operations was AZN 55.67 mln.

Interest profit increased by 2.6% compared to a year ago. Non-interest loss rose 42.9%, including interest expenditure rose 5.8% while interest income increased by 4.3%. Income and expenditure in non-interest operations soared 10.3% and 23.2%.