Four banks lost over AZN 6 million in 1st half of 2021


July 30, Fineko/abc.az. 22 banks completed the 1st half of 2021 with net profit of AZN 372 million, and four banks with net loss of AZN 6.3 million.

ABC.AZ reports that Central Bank’s general director Togrul Aliyev made such a statement at today’s media conference.

He noted that the net loss is linked with the fact that three banks’ operating expenses exceed operating income, and reserves for possible credit losses have been created in one bank.

"The capital of banks operating with losses is sufficient to absorb the risks they face, and does not pose a threat to their financial stability. This damage does not pose a threat to the banking system," Aliyev said.