The total profit of Azerbaijani banks increased by 16 times

The total income of banks operating in Azerbaijan in January-June this year amounted to 960.1 million manat, or 203.41 million or 26.9% more than in the comparable period of the previous year. Non-interest income increased 19.5% to 194.71 million manat.

The banks' expenses during the reporting period increased 128.5 million or 21.2% to 734.86 million manat. Accruals for assets decreased as compared with January-June 2012 to 80.21 million or 60.76% to 51.8 million manat (with an annual growth of 23.6% of assets).

According to the Central Bank of Azerbaijan, in the structure of bank income for the reporting period the main part fell on interest income - 79.7%, in the cost - the share of interest payments (53.1%).

Annual profit before tax amounted to 174.1 million manat, which is 9.1 times more than in January-June 2012. The total profit of the banking system increased during the year to 16 times, amounting to 162.28 million manat.

Within six months of 2013 profitably worked 40 banks, whose total net income amounted to 168.03 million manat. Loss of 3 unprofitable banks was 5.75 million manat. Compared with the corresponding period of 2012, the number of profitable banks increased five units. The number of unprofitable banks decreased six, and the total amount of their losses decreased 17.1 times. - 15V -