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
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The Central Bank of Azerbaijan has published a review of the credit union based on the results of the first half of 2024. According to the document, local credit unions suffered losses in the amount of AZN 0.7 million in January-June.This is up by 80% from the same period of the last year.
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The Central Bank of Azerbaijan has published a banking review based on the results of the first half of 2024. According to the document, local banks earned AZN 614 million of net profit in January-June. This is up by 9% from the same period of the last year.
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A non-banking credit organisation (NBCO) "E-Kredit" has been registered in Azerbaijan.
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The Accounting Chamber has published a report on the results of its activities in the first half of 2024. The document is posted on the Chamber's website.
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