Azerbaijan-based banks see fourfold increase in net profit

Namig Huseynov
Author

In January-August 2019, Azerbaijan-based banks’ net profit amounted to AZN 162.1 million, up 4.45-fold from previous year.

Report informs citing Financial Markets Supervisory Authority (FIMSA) that the operating incomes rose by 15.7% to AZN 1,720,100,000, operating expenditures went up 5.3% to AZN 1,100,700,000, allocations for special reserves slid 60.15% to AZN 126.1 million, other incomes grew by 30.7-fold to AZN 21.5 million, profit tax ascended by 2.45-fold to AZN 52.7 million.

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