Azerbaijan-based banks see 4% decrease in net profit

In January-May 2020, Azerbaijan-based banks’ net profit amounted to AZN 314.5 million, down 3.5% from the previous year.

Report informs citing Financial Markets Supervisory Authority (FIMSA) that the operating incomes fell by 4.3% to AZN 1,062.3 million, operating expenditures went up 0.9% to AZN 677.6 million, allocations for special reserves slid 95.6% to AZN 4.5 million, profit tax ascended by 2.1-fold to AZN 65.7 million.