Azerbaijan’s banking sector sees nearly threefold decline in net profit

The net profit of Azerbaijan’s banking sector in January-February 2019 amounted to AZN 49.2 million, down 65.2% or 2.9-fold from the previous year, Report informs referring to the Financial Markets Supervisory Authority (FIMSA).

During the two months, the banks saw interest incomes at AZN 319.3 million (up 11.25% from the previous year), interest expenditures at AZN 96.3 million (-4.75%), non-interest incomes  at AZN 99.2 million (+40.3%), non-interest expenditures at AZN 164.2 million (+14.9%), allocations for compensation of possible losses on assets at AZN 99.7 million, other incomes at AZN 2.1 million (+2.1-fold), profit tax at AZN 11.2 million (+2.7-fold).