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 -