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Azerbaijan-based banks gets rise in profit

Azerbaijan-based banks gets rise in profit

21 July 2011 09:06 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijan-based banksâ€™ profit made AZN 65.36 mln during January-May, 2011, down 0.06 mln or 0.1% compared to a year earlier.

Central Bank of Azerbaijan says May was successful for banks. So that, the profit in January-April, made AZN 33.87 mln, down AZN 26.07 mln or 43.5% from year ago. Thus, AZN 31.49 mln-profit was observed in May.

Interest incomes made AZN 440.4 mln, interest expenditures â€“ AZM 237 mln and consequently, net interest profit made AZN 203.4 mln. Non-interest incomes stood at AZN 113.4 mln, non-interest expenditures â€“ AZN 202.9 mln. The loss on non-interest operations made ANZ 89.5 mln.

Note that, interest profit rose 0.3%, non-interest loss â€“ 37.3% compared to January-May, 2010. As well, interest expenditure rose 6.7%, while interest income increased by 3.7%. Incomes in non-interest operations soared 5.4%, expenditures â€“ 17.4%.

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