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Azerbaijani banks' total profit exceed losses by more than fivefold

Business Materials 8 June 2014 13:03 (UTC +04:00)

Baku, Azerbaijan, June 8

By Zulfiyya Qurbanova - Trend:

The Azerbaijani Central Bank (CBA) stressed exceeding the total profits of lucrative banks over the total loss of unprofitable banks by over five-fold as of April 2014.

The profit of 33 banks was 171.39 million manat, while the loss of 11 banks stood at 33.67 million manat, according to the report. This allowed the banking system to earn 137.72 million manat of net profit.

The number of profitable banks decreased by six units in April 2014, while the total profit of the sector increased by 51.02 percent. The number of unprofitable banks increased from four to 11 and the total loss increased by over 4.5 times.

Period

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

June 1, 2013

39

113,49

4

-7,48

106,02

June 1, 2014

33

171,39

11

- 33,67

137,72

Some 43 banks operated in Azerbaijan in January-April 2014, namely, 42 commercial banks and one state bank. The number of banks with foreign capital is 22. The share of foreign capital in seven of these banks is from 50 to 100 percent, while up to 50 percent in 13 banks. There are also two local branches of foreign banks.

The official exchange rate is 0,7843 AZN/USD on June 8.

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