Central Bank recorded a record profit of the banking sector

The total income of banks operating in Azerbaijan in January-November 2013 amounted to 1895.29 million manat, which is 418.87 million or 28.3 % more than the same period last year. Non-interest income increased 18.7% to 389.47 million manat.

Bank expenses for the reporting period increased 270.1 million or 23.9% to 1,399.55 million manat. Accruals on assets decreased compared to January-November 2012 to 39.6 million or 22.1 % to 140.12 million manat (with an annual growth of 27.2 % of assets).

As reported by the Central Bank of Azerbaijan, in the structure of bank income for the reporting period, the main part fell on interest income - 79.4 % of the costs - the share of interest payments (53.4 %).

Annual profit before tax amounted to 355.76 million manat, which is 2.1 times more than in January - November 2012. The total profit of the banking system increased during the year by 2.2 times, amounting to 334.16 million manat. Recall that the largest total profit sector in the amount of 252.98 million manat was fixed in 2009.

During 11 months of 2013 profitably worked 38 banks whose total net income was 346.89 million manat. Loss of 5- unprofitable banks amounted to 12.73 million manat. Compared with the corresponding period of 2012, the number of profitable banks increased three units. Number of unprofitable banks decreased by the same amount and the total amount of their losses decreased 7.3 times. - 15V -