Azerbaijan’s banking system get losses in Q2

Azerbaijan’s banking system get losses in Q2
# 10 August 2012 11:13 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Azerbaijan-based commercial banks’ pre-tax profit made AZN 19.11 mln, during January-June, 2012, down 3.9 times from year earlier.

Total profit of banks stood at AZN 38.61 mln during January-March, but in April-June the loss made AZn 19.5 mln.

Interest incomes in January-June were AZN 593.69 mln, interest expenditures – AZN 321.47 mln. Consequently, interest profit made AZN 272.23 mln. At the same time, non-interest incomes stood at AZN 163.01 mln, non-interest expenditures – at AZN 284.96 mln. Therefore, non-interest operations caused give rise to AZN 121.95 mln-loss.

Note that, in January-June, 35 commercial banks saw profit, 9 banks - loss. Total profit made AZN 109.05 mln, total losses – AZN 98.80 mln.
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