Azerbaijan-based banks get 12-fold growth in net profit

In January-June 2019, Azerbaijan-based banks’ net profit amounted to AZN 433.3 million, up 11.9-fold from previous year.

Report informs citing Financial Markets Supervisory Authority (FIMSA) that the operating incomes rose by 21.4% to AZN 1,326,600,000, operating expenditures went up 7.25% to AZN 840.9 million, allocations for special reserves slid 84.8% to AZN 39.2 million, other incomes grew by 19.4-fold to AZN 21.3 million, profit tax ascended by 2.3-fold to AZN 34.4 million.