BAKU, Azerbaijan, March 4. Azerbaijan's banks' net profit as of January 31, 2024 was 99.6 million manat ($58.5 million) (an increase of 10.3 percent or 9.3 million manat ($5.4 million) from the same time last year), Trend reports.
According to the Central Bank of Azerbaijan's (CBA) statistical
report, operating profit was 143.6 million manat ($84.4 million),
an increase of 6.77 percent.
During the reporting period, banks' interest revenue totaled 321
million manat ($188.7 million) (up 17.32 percent), including 239.7
million manat ($140.9 million) on loans given (up 19.91 percent),
while non-interest income totaled 141.7 million manat ($83.3
million) (up 67.49 percent).
Banks' interest expenses totaled 86.4 million manat ($50.8 million)
(28.57 percent rise), including 62.1 million manat ($36.5 million)
on deposits (29.38 percent growth), while non-interest expenses
totaled 225.3 million manat ($132.4 million) (49.5 percent
growth).
Pre-tax profit in the banking industry totaled 121.5 billion manat
($71.4 billion), with income tax payments totaling 21.9 million
manat ($12.8 million).
To note, the total assets of banks exceeded 49.2 billion manat ($28.9 billion) as of January 31, 2024.
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