BAKU, Azerbaijan, October 20. The total profit of Azerbaijani banks amounted to 401 million manat ($235.8 million) from January through June 2022, which is 9.6 percent more than in the same period the previous year, Trend reports citing the analysis of intersectoral financial flows of the Central Bank of Azerbaijan (CBA).
"The growth rate of banks' assets exceeds the growth rate of their profits. This, in turn, leads to a decrease in the return on assets - two percent in the first half of the year (2.2 percent in 2021). At the same time, the return on equity increased by 0.2 percent- up to 15.3 percent from January through June 2022," the CBA said,
According to the CBA, the growth in the net profit of banks was primarily affected by an increase in interest income. In particular, the net interest income of banks increased by 207 million manat or 121.7 million (by 28.3 percent), up to 938 million manat ($551.7 million), non-interest income - by 115 million manat or $67.6 million (by 27 percent), up to 534 million manat or $314.1 million from January through June 2022.