Profit of Azerbaijani banks shrinks

Baku. 4 August. REPORT.AZ/ The assets of the Azerbaijani bank sector made 30 036,9 mln. AZN as of July 1 of this year, while it is 4,5% less compared to the start of the year.

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

Some 44,8% or 13 462,1 mln. AZN of banks’ assets fell on the share of the credits granted to customers. In the first half of this year, the credit portfolio of banks reduced by 15,5%.

During 6 months, the total liabilities of banks made 27 322,9 mln. AZN declining by 7,5%. The deposit portfolio made 16 687,2 mln. AZN increasing by 1,7%. Some 6 880,7 mln. AZN of this fell on the share of individuals; 9 806,5 mln. AZN fell on the share of legal entities. Since the beginning of the year, the deposits of the population have decreased by 7,4%; the funds of companies have risen by 9,2%.

In January-June, the liabilities of banks before the Central Bank of Azerbaijan fell to 647,47 mln. AZN reducing by 61,8%.

In the reporting period, the balance capital of credit organizations reached 2, 714 billion AZN increasing by 42,2%.

Notably, the profit indicator of banks for January-May made 178,2 mln. AZN. In other words, in June, the profit of banks reduced by 93,3 mln. AZN.