Azerbaijan-based banks end 2018 on net profit of AZN 279.4M

Baku. 28 January. REPORT.AZ/ Azerbaijan-based banks ended 2018 on net profit of AZN 279.4 million, down 68.4% from the previous year, Report informs citing the Financial Markets Supervisory Authority (FIMSA).

Interest incomes dropped by 1.3% at AZN 1,753.0 million, interest expenditures by 29.5% at AZN 581.9 million, non-interest incomes by 41.5% at AZN 549.1 million and non-interest expenditures ascended by 4.6% at AZN 1,025.6 million. The net operating profit slid 23.5% settling at AZN 694.6 million.

The banks allocated AZN 345.4 million for special reserves on compensation of possible losses, paid AZN 72.3 million in profit tax.