Azerbaijan-based banks get AZN 348M in profit in four months

In January-April 2019, Azerbaijan-based banks’ net profit amounted to AZN 347.9 million, while they ended the same period of 2018 on AZN 57.1 million in loss.

Report informs citing Financial Markets Supervisory Authority (FIMSA) that the interest incomes rose by 14.75% to AZN 644 million, interest expenditures dropped by 6.7% to AZN 187.7 million, non-interest incomes grew by 57.1% to AZN 250.3 million, non-interest expenditures surged 5.7% to AZN 344.3 million, allocations for special reserves for compensation of possible loss on assets slid 96.45% to AZN 8.6 million, other incomes rose 12.8-fold to AZN 21.7 million, while profit tax ascended by 2.7-fold to AZN 27.5 million.