Azerbaijan-based banks see threefold increase in net profit

In January-September 2019, Azerbaijan-based banks’ net profit amounted to AZN 522.7 million, up 3.05-fold from previous year.

Report informs citing Financial Markets Supervisory Authority (FIMSA) that the operating incomes rose by 15.1% to AZN 1,935,100,000, operating expenditures went up 6% to AZN 1,242,700,000, allocations for special reserves slid 56.75% to AZN 135.7 million, other incomes grew by 17.8-fold to AZN 21.4 million, profit tax ascended by 2.2-fold to AZN 55.4 million.