Azerbaijani banks get 550 mln AZN net profit as of November 1

Baku. 11 December. REPORT.AZ/ In January-October 2017, interest income of the Azerbaijani banks amounted to 1 582.3 mln AZN as well as interest income of the loans to 1 168.5 mln AZN, interest expenses to 740.8 mln AZN, interest expense of the deposits to 316.9 mln AZN, non-interest income to 828.9 mln AZN, non-interest expenses to 789.5 mln AZN.

Report informs referring to the Financial Market Supervisory Authority of the Republic of Azerbaijan (FIMSA).

According to information, as a result, net operating profit of the banking sector amounted to 880.9 mln AZN. Banks directed 309.6 mln AZN of this amount to create special reserves for possible losses on assets, obtained income of 3.4 mln AZN from other sources and paid income tax of 25.1 mln AZN. Thus, net profit of the sector for 10 months made 549.6 mln AZN.