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Azerbaijan-based banks total profit spiked

Azerbaijan-based banks total profit spiked

04 September 2013 14:11 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. Azerbaijan-based banks’ pre-tax profits made AZN 218.31 mln in January-August, 2013, up AZN 159.75 mln or 3.7 times from 2012.

Interest incomes stood at AZN 924.21 mln, interest expenses – at AZN 460.92 mln and interest profit – at AZN 463.29 mln. At the same time, non-interest incomes made AZN 234.03 mln, non-interest expenses – AZN 412.03 mln and loss on non-interest operations – AZN 178.00 mln.

Compared to a year earlier, interest profit soared AZN 142.77 mln or 44.6%, non-interest loss – AZN 42.67 mln or 31.5%.

As it seems, total profit of the banks also increased by decline of special allocations on assets. So these allocations dropped to AZN 66.90 mln from AZN 127.51 mln.

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