Baku, Azerbaijan, Oct. 4
By Azad Hasanli – Trend:
The profit of Azerbaijani banks amounted to 350.3 million manats in August 2017, which is by 61.6 percent more than in July 2017, according to the report of the country’s Financial Market Supervisory Authority.
Azerbaijani banks completed 2016 with a loss of 1.7 billion manats.
Income of banks amounted to 1.83 billion manats in January-August 2017. The banks’ expenditure amounted to 1.26 billion manats.
The operating profit of banks amounted to 565.8 million manats, while the expenditure on creation of reserves to pay off possible losses amounted to 196.8 million manats. Other expenses of the bank reach 2.6 million manats. The profit tax amounted to 21.3 million manats.
There are 31 banks, including two state-owned ones, in Azerbaijan.