Net profit of Azerbaijani banking sector unveiled

Net profit of Azerbaijani banking sector unveiled Report: 20 banks completed first quarter with profit, 12 banks with loss
Finance
2060
April 27, 2017 11:31
Net profit of Azerbaijani banking sector unveiled

Baku. 27 April. REPORT.AZ/ In first quarter of 2017, net income of Azerbaijan banking sector made AZN 124 310.74 thousand. Net profit of profitable banks made AZN 171 854.21 thousand, while net loss of unprofitable banks was equal to AZN 47 543.47 thousand. Notably, among 32 banks operating in the country 20 completed the first quarter with profit, 12 with loss.

Experts group of Report informs referring to banks’ quarterly financial statements.

Net profit of International Bank of Azerbaijan (IBA) makes 52% or AZN 90 mln of overall profit of profitable banks. Notably, IBA hasn't yet declared financial statement to the public, just provided information about its profit.

Losses of some banks in the first quarter was caused by increased allocations to special reserve aimed at compensation of possible losses from their assets.

Notably, according to the Financial Market Supervision Authority (FIMSA), net profit of banking sector was AZN 50 mln in January-February, 2017.

No. Banks Net loss(thsd. AZN)
1 Accessbank 21 837,00
2 Bank of Baku 11 643,00
3 Demirbank 7 258,42
4 AG Bank 1 807,45
5 Amrahbank 1 450,29
6 Turanbank 1 199,00
7 BTB 1 144,00
8 Bank Respublika 492,00
9 Unibank 333,56
10 Bank VTB Azerbaijan 261,09
11 NBC 80,50
12 Pakistan Milli Bank-Baku 37,16
TOTAL 47543,47
No. Banks Net profit(thsd. AZN)
1 IBAR 90 000,00
2 Kapital Bank 30 792,63
3 PASHA Bank 23 946,00
4 Bank Eurasia 7 360,40
5 Gunaybank 3 049,53
6 Expressbank 2 636,00
7 Silk Way Bank 2 035,17
8 YapiKredi Bank Azerbaijan 2 018,00
9 ASB 1 567,41
10 Ziraat Bank Azerbaijan 1 337,86
11 Nakhchivanbank 1 219,68
12 Atabank 1 177,84
13 Azer-Turk Bank 1 064,55
14 AFB Bank 875,70
15 Caspian Development Bank 652,72
16 Xalq Bank 598,23
17 Muganbank 515,18
18 Rabitabank 450,00
19 Bank Melli Iran-Baku 329,89
20 Nikoil Bank 227,41
TOTAL
171854,21

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