Azeri bank system sees total profit spiked by 39%

Azeri bank system sees total profit spiked by 39%
# 09 January 2013 09:17 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Azerbaijani bank system’s total pre-tax profit made AZN 168.18 million for January-November, 2012 up 38.8% from a year ago, said the Central Bank of Azerbaijan.

Banks’ total profit was AZN 146.25 mln in January-October, 2012. So, the banks earned AZN 21.93 mln-profit in November, up 5.4 times from 2011’s November.

Interest incomes made AZN 1,148.31 mln, interest expenditures – AZN 593.62 mln and consequently, interest profit was equal to AZN 554.69 mln. At the same time, non-interest incomes stood at AZN 328.11 mln, non-interest expenditures – at AZN 535.85 mln and non-interest loss – at AZN 207.74 mln.

Non-interest operations arose only losses and it may have some reasons. Firstly, this is administrative costs. Besides, Azerbaijan-based banks use non-credit operations weakly.

Note that in January-November, 35 banks operated in profit, 8 - in losses. Profits made AZN 244.44 mln, losses – AZN 93.31 mln.

#
#

THE OPERATION IS BEING PERFORMED