Azerbaijani NBCOs turn net net profit of AZN 77 million in first half of year
The Central Bank of Azerbaijan has published a review of NBCOs on the results of the first half of 2024.
According to the document, local NBCOs turned a net profit of AZN 76.6 million in January-June. This is up by 2.9 times from the same period of the last year.
Over 6 months NBCOs earned AZN 129 million of interest income, AZN 43.9 million of non-interest income, AZN 0.2 million of unexpected income; incurred AZN 16.9 million of interest expenses, AZN 60.3 million of non-interest expenses; created a special reserve for overdue loans in the amount of AZN 2.9 million; paid AZN 16.4 million of income tax.
Finance
-
Auction on early redemption of government bonds with codes AZ0201040208, AZ0201040240, AZ0201040265 and AZ0201040323 ISIN, placed by the Ministry of Finance, will be held at the Baku Stock Exchange on 25 February. This was reported by the Ministry.
-
The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.
-
In January 2025, contributions to compulsory state social insurance in Azerbaijan totalled AZN 443.4 million. This was reported by the State Tax Service under the Ministry of Economy.
-
In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).
Leave a review