BAKU, Azerbaijan, Aug.5
By Zeyni Jafarov - Trend:
The total profit in the Azerbaijani banking sector declined in the first half of 2021, Trend reports referring to the financial report of the Central Bank of Azerbaijan (CBA).
According to the report, this indicator amounted to 366.3 million manat ($215.4 million), down by 1.5 percent on annual basis.
In the reporting period, the banks' net interest income reached 730.7 million manat ($429.8 million, increase of 7.4 percent on annual basis) and was formed through the interest income.
Some 805.7 million manat ($473.9 million) of the interest income accounted for interest on loans (growth of 6.2 percent year on year) and related expenses in the amount of 262.6 million manat ($154.4 million, up by 8.9 percent).
At the same time, expenses on interest on deposits amounted to 172.9 million manat ($101.7 million).
The non-interest income of the banking sector from January through June this year amounted to 418.9 million manat ($246.4 million), rising by 31.1 percent compared to first half of 2020.
The non-interest expenses amounted to 647.2 million manat ($380.7 million), growing by 13.7 percent for the year.
The operating profit reached 502.4 million manat ($295.5 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 366.3 million manat ($215.4 million).
(1 USD = 1.7 AZN on Aug. 5)
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