Azerbaijan-based banks receive AZN 124M in profit in Q1

In January-March 2019, the net profit Azerbaijan-based banks amounted to AZN 123.9 million, while they ended the same period of 2018 on AZN 55.9 million in loss.

Report informs citing the Financial Markets Supervisory Authority (FIMSA) that interest incomes rose by 12.9% to AZN 483.2 million, interest expenditures dropped by 7.4% to AZN 140.7 million, non-interest incomes surged by 26.8% to AZN 145.2 million, non-interest expenditures went up 2.55% to AZN 248.9 million, allocations for special reserves on compensation of possible losses on assets fell by 37.8% to AZN 122.8 million, other incomes advanced 16.7-fold to AZN 23.4 million, profit tax doubled to AZN 15.5 million.