Baku, Azerbaijan, Nov. 3
By Anvar Mammadov – Trend:
The profit of Azerbaijani banks amounted to 479.7 million manats in September 2017, which is by 36.9 percent more than in August 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 2.22 billion manats in January-September 2017. The banks’ expenditure amounted to 1.4 billion manats.
The operating profit of banks amounted to 820.8 million manats, while the expenditure on creation of reserves to pay off possible losses amounted to 321.3 million manats. Other expenses of the bank reach 2.9 million manats. The profit tax amounted to 22.7 million manats.
There are 31 banks, including two state-owned ones, in Azerbaijan.