BAKU, Azerbaijan, July 5
By Zeyni Jafarov - Trend:
The total profit in the Azerbaijani banking sector declined as of early June 2021, Trend reports referring to the financial report of the Central Bank of Azerbaijan (CBA).
According to the report, this indicator amounted to 273.2 million manat ($160.7 million) which is 13.1 percent less than in the same period of 2020.
The banks' net interest income amounted to 601.6 million manat ($353.8 million, increase of 4.9 percent on annual basis) and was formed through the interest income.
Some 665 million manat ($391.1 million) of the interest income accounted for interest on loans (growth of 5 percent year on year) and related expenses in the amount of 219.2 million manat ($128.9 million, an increase of 8.9 percent).
At the same time, expenses on interest on deposits amounted to 141.7 million manat ($83.3 million).
The non-interest income of the banking sector by early June 2021 amounted to 334.2 million manat ($196.6 million), rising by 27 percent compared to early June 2020.
The non-interest expenses amounted to 524.6 million manat ($308.6 million), growing by 10.1 percent for the year.
The operating profit reached 411.2 million manat ($241.8 million), of which 87.5 million manat ($51.4 million) accounted for the reserves.
Accordingly, the profit after taxes and unforeseen expenses related to the banking activity amounted to 273.2 million manat ($160.7 million).
(1 USD = 1.7 AZN on July 5)
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