Baku, Azerbaijan, Oct. 24
By Kamala Mammadli - Trend:
The operating profit of banks in Azerbaijan in September amounted to 645.7 million manat ($379.8 million), Trend reports referring to Azerbaijan’s Financial Market Supervisory Authority (FIMSA).
Net profit of banks amounted to 522.7 million manat ($307.5 million), according to the report.
Compared to the same period last year, operating income grew by 10.6 percent, and interest income on loans - by 14.4 percent.
Aggregate capital adequacy ratio in September amounted to 22.6 percent, which is 2.3 times higher than the standard.
The minimum demand for the sector’s quick liquidity ratio (57.8 percent) exceeds the standard by 1.9 times. Return on assets (ROA) and return on equity (ROE) in the banking sector are 2.3 percent and 16.9 percent, respectively.
Out of 30 banks operating in Azerbaijan, 14 have capital in foreign currency, in 7 of them, the share of foreign currency in capital is 100 percent. There are 515 bank branches, 129 bank departments and 2,592 ATMs in Azerbaijan.
From January through September 2019, the number of employees in the banking sector increased by 1,496 people (an increase of 8.6 percent) and amounted to 18,911 people.
($1= 1.7 manat on Oct. 24)