Azerbaijan-based banks see 1% decrease in net profit

In January-September 2021, Azerbaijan-based banks’ net profit amounted to AZN 505.6 million, down 1.4% from the previous year.

Report informs citing Financial Markets Supervisory Authority (FIMSA) that the operating incomes rose by 13.55% to AZN 2,170.9 million, operating expenditures went up 17.55% to AZN 1,417.9 million, allocations for special reserves went up 2.2-fold to AZN 154.3 million, unexpected incomes increased by sixfold to AZN 0.6 million, profit tax descended by 23.25% to AZN 93.8 million.