Azerbaijan’s banks get a 65% year-on-year rise in profit

Azerbaijan’s banks get a 65% year-on-year rise in profit
# 06 October 2008 13:06 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Azerbaijan’s banking system generated AZN 181.42 million in profit during January-August, up 64.6% fon the same period last year, said the National Bank of Azerbaijan.
Banks’ interest profit rose 83.7% to AZN 346.16 million, non-interest loss increased 2.3 times to AZN 32.79 million and special allocations on assets more than doubled to AZN 131.95 million.
Interest incomes increased 93.3% to AZN 622.22 million and interest expenditures doubled to AZN 279.06 million.
Besides, non-interest income rose 52.6% to AZN 188.65 million and expenditures increased 60.7% to AZN 221.44 million.
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