Net profit of Azerbaijan-based banks exceeds AZN 100M - UPDATED

Baku. 19 September. REPORT.AZ/ Azerbaijan-based banks ended January-August of 2018 on net profit of AZN 103.8 million, up AZN 71.6 million or 3.2-fold in comparison with January-July of 2018, Report informs citing the Financial Market Supervisory Authority (FIMSA).

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During eight months, interest rates of the banking sector stood at AZN 1,138,400,000, interest expenses at AZN 394.1 million, non-interest incomes at AZN 347.8 million, non-interest expenses at AZN 651.2 million, net operating profit at AZN 441 million.

Of this, AZN 316.4 million was allocated for special reserves for compensation of possible loss on assets, incomes from other sources made up AZN 0.7 million, AZN 21.5 million was paid as a profit tax.