The total profit of the banking system declined by 2.3 times
The total income of banks operating in Azerbaijan in January-April of this year amounted to 518.16 million manat, which is 83.37 million manat or 19.2% more than for the comparable period last year. Non-interest income increased 20.1% to 104.95 million manat.
The costs of banks for the period increased 44.37 million manats or 12.6% to 396.95 million manat. Accruals of assets increased in comparison with January-April last year to 55.55 million manat or 2.1 times, reaching 103.94 million manat (with an annual growth of assets by 15.6%).
Turan was told in the Central Bank of Azerbaijan, in the structure of banking income for the reported period the bulk fell on interest income - 79.7%, and the bulk of the costs was interest payments (54.1%).
Annual profit before tax amounted to 17.34 million manat, which is almost half the figure for January-April 2012. The total profit of the banking system declined during the year by 2.3 times, amounting to 13.6 million manat.
Thirty-six banks worked profitably - their total net income amounted to 82.18 million manat. Losses of 8 unprofitable banks were 68.58 million manat. Compared with the corresponding period in 2011 the number of profitable banks increased four. The number of unprofitable banks fell by four. The total amount of their losses increased 4.3 times. - 15B -
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- Economics
- 28 June 2012 13:45
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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