The total profit of banks in the first eight months reached 225 million manats

The total income of banks operating in Azerbaijan in January- August of this year amounted to 1340.31 million manat, or 455.31 million or 51.4 % more than in the comparable period of the previous year. Non-interest income increased 6.2 % to 273.69 million manat.

Banks' expenses during the reporting period increased 124.75 million or 14.3% to 997.7 million manat. Accruals for assets decreased as compared with January-August 2012 to 34.13 million or 25% to 102.34 million manat (with an annual growth of 26% of assets).

According to Turan in the Central Bank of Azerbaijan, in the structure of bank income for the reporting period the main part fell on interest income - 79.6 % , in the costs - the share of interest payments (53.3 %).

Annual profit before tax amounted to 240.21 million manat, which is 2.4 times more than in January - August 2012. The total profit of the banking system increased over the year by 2.5 times, amounting to 224.97 million manat. Recall that the largest profit sector in the amount of 252.98 million manat was fixed at the end of 2009.

Within eight months of 2013 profitably worked 40 banks, whose total net income amounted to 238.12 million manat. Losses of 3 unprofitable banks were 13.15 million manat. Compared with the corresponding period of 2012, the number of profitable banks increased seven units. The number of unprofitable banks decreased the same amount and the total amount of their losses decreased 7.1 times. - 15B-