BAKU, Azerbaijan, Sept. 22
Tamilla Mammadova – Trend:
Commercial banks earned 232.858 million lari ($74.9 million) in net profit in August 2021 that is 136.495 million lari ($43.9 million) more than in the same period of the previous year, Trend reports via the National Bank of Georgia.
The net profit of banks last August stood at 96.363 million lari ($31.02 million).
Net profit for 2021 by months:
January - 113.368 million lari ($36.4 million);
February - 132.115 million lari ($42.5 million);
March - 166.324 million lari ($53.5 million);
April - 173.071 million lari ($55.7 million);
May - 180.117 million lari ($57.9 million);
June - 294.628 million lari ($94.8 million);
July - 177.956 million lari ($57.2 million);
August - 232.858 million lari ($74.9 million).
According to the National Bank, in August 2021 the income of commercial banks amounted to 529.715 million lari ($170.5 million) of which interest income made 411.449 million lari ($132.4 million). Expenditures of commercial banks in August amounted to 270.723 million lari ($87.1 million).
Revenues from fines and penalties amounted to 6.862 million lari ($2.2 million); net profit from conversion operations, ie currency transactions, amounted to 27.791 million lari ($8.9 million). At the same time, in the previous month, banks received 37.218 million lari ($11.9 million) from fees and commissions.
Last year the net profit of commercial banks amounted to 99,262 lari ($31,955) that was the record low in recent years caused by the pandemic in the first month when banks had to defer loans.
Thus, in March 2020 banks suffered a loss of $943,130 million and since then commercial banks have not suffered losses.
As of August, 15 commercial banks were operating in the market.
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