The total profit of the banking sector in the first nine months of this year reached 246.7 million manat
The total income of banks operating in Azerbaijan in January-September this year amounted to 1504.47 million manat, which is 331.16 million or 28.2 % more than the same period last year. Non-interest income increased 16 % to 310.86 million manat.
Bank expenses for the reporting period increased 216.65 million or 23.7 % to 997.7 million manat. Accruals on assets decreased compared to January-September 2012 by 46.94 million or 29.7 % to 111.27 million manat (with an annual growth of 26.7 % of assets) .
As reported by Central Bank of Azerbaijan, in the structure of bank income for the reporting period the main part fell on interest income - 79.3 % of the costs - the share of interest payments (53.5 %).
Annual profit before tax amounted to 263.94 million manat, which is 2.6 times more than in January - September 2012. The total profit of the banking system increased during the year by 2.7 times, amounting to 246.67 million manat. Recall that the largest profit sector in the amount of 252.98 million manat was recorded in late 2009.
During the first nine months of 2013 profitably worked 38 banks whose total net income was 260.29 million manat. The losses of three unprofitable banks totaled 13.62 million manat. Compared with the corresponding period of 2012, the number of profitable banks increased five units. The number of unprofitable banks decreased by the same amount and the total amount of their losses decreased 6.9 times. - 15V -
Economics
-
This year, Azerbaijan has experienced a significant increase in passenger traffic: from January to November, 3,230,224 travelers arrived from 41 countries, marking a 32.9% increase compared to the same period last year. This growth, reported by the State Tourism Agency, underscores the country’s rising prominence as a regional tourism hub, particularly against the backdrop of ongoing restrictions on crossing land borders.
-
The Azerbaijani government anticipates fluctuations in the production of propylene, a key raw material for plastics and related products, in the coming years. According to the country's socio-economic development forecasts for 2025-2028, production levels are expected to vary, reflecting the complexity of the chemical sector and its links to broader energy markets.
-
Kazakhstan has achieved significant growth along the Trans-Caspian International Transport Route (TITR), with cargo volumes increasing by 68% and container shipments soaring 2.7 times during the first 10 months of 2024. These figures, announced by Kazakhstan's Minister of Transport Marat Kabaev during a regional development meeting in the Mangystau region, highlight the crucial role of the Middle Corridor in connecting China with Europe.
-
On December 9, Azerbaijani President Ilham Aliyev signed a decree approving the protocol of amendments to the Agreement on Strategic Partnership for the Development and Transmission of Green Energy. The agreement, involving Azerbaijan, Georgia, Romania, and Hungary, aims to strengthen cooperation in sustainable energy across the region.
Leave a review