Interest income in banking sector increased last month - Report


November 26, Fineko/abc.az. The Financial Market Supervision Authority has unveiled the summary indicators of the banking sector for October 2019.

ABC.AZ reports that the balance sheet capital of the sector for the reported period increased by 1.0% (AZN 45.5 million) up to AZN 4.734 million. Last month the operating profit of banks amounted to AZN 723.6 million and net profit AZN 572.9 million. Compared with the 2018 same term, interest income grew by 10.2% and interest income on loans by 14.3%.

The number of branches of 30 banks of Azerbaijan reached 515,130 branches and cash machines 2,612. Growth in the number of employees in the banking sector continued in October. Thus, in October 2019 the number of employees grew by 1.0% (197 people) up to 19,108 people.

By Elmir Murad