Baku. 17 December. REPORT.AZ/ Azerbaijan-based banks ended January-October 2018 on net profit of AZN 238 million, down 56.7% or 2.3-fold from the previous year, Report informs referring to the Financial Markets Supervisory Authority (FIMSA).
Interest incomes made up AZN 1,445.2 million, interest expenditures AZN 489.3 million, non-interest incomes AZN 445.2 million, non-interest expenditures AZN 819.4 million. Consequently, the net operating profit stood at AZN 581.8 million.
Compared to a year earlier, the interest incomes, interest expenditures and non-interest incomes fell respectively by 8.7%, 33.95% and 46.3%, non-interest expenditures grew by 3.8% and net operating profit declined by 33.95%.
The banks allocated AZN 315.4 million for special reserves to compensate for possible loss on assets and paid AZN 27.9 million as a profit tax. Special reserves to compensate for possible losses on assets rose by 1.9%, profit tax by 11.15%.
Interestingly enough, the banks stopped obtaining revenues from other sources, on the contrary, they spent AZN 0.5 million on this direction.