Azerbaijan announces domestic banking sector's 1H2021 profit

30 July 2021 19:40 (UTC+04:00)

By Trend

The total profit of the banking sector in Azerbaijan in the first half of 2021 amounted to about 366 million manat ($215.2 million), Director General of the Central Bank of Azerbaijan (CBA) Togrul Aliyev said, Trend reports.

Aliyev made the remark at a press conference.

According to the director-general, out of 26 banks operating in Azerbaijan, four completed the second quarter with a loss.

The net profit of the remaining 22 banks amounted to 372 million manat ($218.8 million), he said.

"The operating profit of local banks exceeded 500 million manat ($294 million). In general, banks that completed the second quarter with a loss are considered stable, and their loss rate does not create risks for the banking sector," Aliyev said.

The Baku branch of the National Bank of Pakistan, Yapi Kredi Bank, Bank Avrasiya and Access Bank completed the second quarter of 2021 with a net loss.

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