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Azerbaijani banks’ total profit exceed loss by 12 times

Business Materials 28 November 2014 17:23 (UTC +04:00)

Baku, Azerbaijan, Nov. 28

By Azad Hasanli - Trend:

The total profit of Azerbaijan's banks exceeds the total loss by 12 times as of October 2014, Central Bank of Azerbaijan (CBA) said in its report.

The profit of 38 banks was 393.63 million AZN, while the loss of six banks stood at 32.26 million AZN, according to the report. This allowed the banking system to get net profit of 361.37 million AZN.

The number of profitable banks remained unchanged compared to September 2014, and their total profit increased by 12.95 percent. The number of unprofitable banks remained unchanged and their total loss increased by 13.93 percent.

The number of profitable banks remained unchanged in October 2014 compared to the same month of 2013, while the total profit of this sector increased by 31.5 percent. The number of unprofitable banks increased from five to six, while their total loss - by 2.3 times.

Periods

Number of profitable banks

The total profit of the banking system (profitable banks)

Number of unprofitable banks

The total loss of the banking system (unprofitable banks)

Total profit (+) or loss (-) obtained by banks

Nov. 1, 2013

38

299,29

5

-13,54

285,75

Nov. 1, 2014

38

393,63

8

-32,26

361,37

Around 44 banks operate in Azerbaijan.

The official exchange rate is 0.7844 AZN/USD Nov. 28.

for any questions or feedback follow the author on Twitter: @AzadHasanli

edited by CN

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