Finance

Finance

Azeri bank system sees total profit spiked

04 July 2013 14:20 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Azerbaijan-based commercial banks’ total pre-tax profit made AZN 143.94 million for January-May, 2013, up 2.5 times from a year ago, said the Central Bank of Azerbaijan.

Interest incomes of the banks made AZN 636.71 mln, interest expenditures – AZN 325.16 mln and consequently, interest profit was equal to AZN 311.55 mln. At the same time, non-interest incomes stood at AZN 170.28 mln, non-interest expenditures – at AZN 287.86 mln and the loss on non-interest operations made AZN 117.58 mln.

Compared to a year earlier, the interest profit rose 21%, non-interest loss – 22.9%. Special allocations on assets dropped to AZN 49.94 from AZN 103.95. Total profit growth made AZN 85.72, as well as interest profit growth – AZN 54.36 and non-interest loss growth – AZN 21.87.

For information to note that in January-May, 2013, 39 commercial banks saw profit (AZN 145.31 mln), 4 – faced losses (AZN 8.12 mln).