Azerbaijan Central Bank soars profit 9 times

Baku. 30 April. REPORT.AZ/ Total assets of the Central Bank of Azerbaijan (CBA) have reached 22,635,554 million AZN as of January 1, 2018.

Report informs referring to the financial statement of the company, it is 11.5% less compared to January 1, 2017.

Total liabilities of the CBA in 2017 dropped to 18,122,382 million AZN decreasing by 8% and total capital fell to 4 513,172 million AZN reducing by 23,15%.

The Central Bank has completed last year with 3 513,453 million AZN net profit. It is 8.75 times more compared to 2016.

Unlike previous years, transfers from the State Oil Fund of Azerbaijan Republic (SOFAZ) have played major role in the formation of CBA's revenues in 2017. In other words, the company have significantly increased its profit due to the Oil Fund's payments.