Finance

Finance

Azerbaijani banks see decline in profit

05 January 2012 09:26 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Commercial banks operating in Azerbaijan completed January-November, 2011 with profit (before tax) of AZN 121.17 million, down AZN 1.7 million or 1.4% compared to last year.

Note that, in January-October, profit of the banks made AZN 117.08 million. Thus, in November, banks operated at a profit.

In January-November, 2011, interest income of the banks amounted to AZN 1,000.94 million, interest expense â€“ AZN 533.73 million, interest profit â€“ AZN 467.21 million. At the same time, non-interest income of banks amounted to AZN 281.22 million, non-interest expenses â€“AZN 471.66 million, net non-interest loss â€“ AZN 190.44 million.

In comparison with January-November, 2010, interest profit of the banks increased by 1.2%, while non-interest loss increased by 19.1%, as well as interest income rose 3.4%, while interest expenses increased by 6.3%. Non-interest income from operations increased by 18.4%, expenses - 18.7%.