From January to May 2012 total incomes of the banks operating in Azerbaijan reached 659.73 million AZN, up 105.94 million AZN or 19.2% against the same period last year. The non-percentage incomes increased by 18.1% up to 133.8 million AZN.
During this period banks’ costs increased by 58.32 million AZN or 13.3% up to 498.25 million AZN. The reserve allocations to assets increased by 55.39 million AZN or 2.1 times against the same period last year and totaled 103.95 million AZN (with annual growth of assets by 14.2%).
A source from the Central Bank of Azerbaijan (CBA) told Turan that during this period the main part of bank incomes fell to the percentage payments – 79.7% and in the expenses 53.9% fell to payment of percentage.
Annual profit of banks less taxes totaled 58.22 million AZN, down 10.9% against January-May 2011. During a year total profit of the banks dropped by 15.2% and totaled 53.16 million AZN.
36 banks worked with profit and their total net profit reached 118.95 million AZN. Losses of 8 unprofitable banks totaled 65.79 million AZN. Number of profitable banks increased by 2 against the same period in 2011. Number of unprofitable banks dropped by 2 and total sum of their losses increased by 4.4 times.—0—
Economics
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President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
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Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
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Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
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The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
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