Azerbaijan’s non-bank credit institutions (NBCIs) recorded a combined net profit of 153.4 million manats in January-September this year, marking a 2.55-fold increase compared with the same period last year. According to the Central Bank of Azerbaijan, the sector’s operating revenues reached 538.2 million manats during the first nine months of the year, up 62.9% year-on-year. Operating expenses rose by 40.35% to 230.3 million manats, while allocations to special reserves increased by 38.8% to 135.3 million manats.
Unexpected expenses amounted to 200,000 manats, compared with unexpected income in the same period a year earlier. NBCIs paid 19 million manats in profit tax, 2.2 times more than in January-September last year. As of October 1, the sector’s total assets stood at 1.5587 billion manats, representing a 49.3% increase from a year earlier.
Net loans extended to customers accounted for 1.1746 billion manats of total assets. The sector’s loan portfolio expanded by 57.1% over the 12-month period, highlighting the continued growth of lending by non-bank financial institutions. Meanwhile, NBCIs’ total liabilities increased by 56.9% year-on-year to 852.8 million manats.
Their balance-sheet capital rose by 41% to 705.9 million manats. The figures point to substantial growth in the sector’s lending activity, revenues and profitability over the first nine months of the year. Here we are to serve you with news right now.
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