BAKU, Azerbaijan, Apr.29
By Zeyni Jafarov - Trend:
The profits of the Central Bank of Azerbaijan (CBA) in 2020 amounted to 52.5 million manat ($30.8 million, decrease of 24.1 percent on annual basis), Trend reports referring to the bank’s financial report.
According to the report, the CBA's interest income for the year decreased by 26.9 percent, amounting to 169.25 million manat ($99.56 million), and interest spending - by 36.4 percent to 149.13 million manat ($87.72 million).
The bank's net profit on foreign exchange transactions made up 1.98 million manat ($1.16 million), which is 64.8 percent more than in 2019.
The Central Bank's operating profit reached 46.67 million manat ($27.45 million, increase of 53.1 percent year-on-year), while other operating expenses rose to 96.23 million manat ($56.6 million).
The total profit of the banking sector in Azerbaijan in 2020 amounted to 567.8 million manat ($334 million), which is 5.75 percent more than in the previous year.
(1 USD = 1.7 AZN on Apr.29)
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