The National Bank of Azerbaijan told APA-Economics that the pretax profit after covering losses was AZN 205.33 million, up 63.3% on the same period last year.
Interest income accounted for AZN 708.98 million (annual growth was 90.5%), interest expenses AZN 318.62 million (2.04 times), non-interest income AZN 210.82 million (48.4%) and non-interest expenses AZN 249.58 million (58.3%) of the profit made by banks.
As seen in the context, non-interest expenses exceed non-interest income.
88.9% of net interest income came from loans lent to customers.
This has become commonplace for Azeri banks because they benefit from lending and lose in non-interest operations.
Non-interest expenses went 41.6% to salary, 32.5% to operating expenditures and 25.9% to fixed assets budget.
The diagram below provides comparison of profit in 2008 and 2007.
As shown in the table, the banks’ total profit earned during January-September this year exceeds last year’s.
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