Bank asset profitability hits 1.2 percent in Azerbaijan

Business Materials 20 August 2010 10:45 (UTC +04:00)

Azerbaijan, Baku, Aug. 20 / Trend N.Ismayilova /

Bank asset profitability reached 1.2 percent in the first half of 2010 compared to 3.1 percent during the same period in 2009, the Central Bank of Azerbaijan (CBA) reported.

Equity returns hit 8.8 percent compared to 21.2 percent in 2009.

Bank asset profitability before taxes reached 80.8 million manat. The figure was recorded at 70.5 million manat after taxes.

Bank interest expenses rose by 18.7 percent to 268 million manat. Their share in the country's total assets fell from 4.8 percent to 4.5 percent.

Downward trends on bank interest rates resulted in a 1.2-percent decrease on interest to $506.7 million manat. Non-interest income grew by 1.9 percent to 130.3 million manat.

During the reporting period, total bank income reached 637 million manat.