Azerbaijani banks completed February 2019 with an aggregate net profit of 49.2 million manats, Trend reports with reference to the Financial Market Supervisory Authority of Azerbaijan (FIMSA).
For comparison: at the end of January, the net profit of banks amounted to 42.6 million manats, at the beginning of the year - 279.4 million manats, at the end of February 2018 - 141.3 million manats.
The interest income of banks in the reporting period amounted to 319.3 million manats, including 226.9 million manats of income from interest on loans and 99.2 million manats of non-interest income.
Interest expenses of banks amounted to 96.3 million manats, including 61.3 million manats for payment of interest on deposits and 164.2 million manats for non-interest expenses.
The operating profit of banks in February amounted to 113.7 million manats (at the beginning of the year - 694.6 million manats, at the end of February 2018 - 113.7 million manats).
During the reporting period, banks created reserves to cover possible losses totaling 55.4 million manats.
There are 30 banks in Azerbaijan, including 2 state-owned ones.
(1.7 manats = 1 USD on April 2)
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