Azerbaijan, Baku 29 February / Trend corr. I.Khalilova/ In January, the number of profitbearing banks in Azerbaijan decreased from 40 to 35, the National Bank of Azerbaijan (NBA) reported. In January 2007, the profitbearing banks numbered only 36.
Total revenue of the bank system increased by 27.9%, as compared to 1 February 2007 and comprised AZN 19mln.
The number of unprofitable banks increased by 5- as compared to the end of 2007 and by 3 as compared to January 2007. The losses of 10 banks amounted to AZN 6.22mln- which is 4.64 times more than by 1 February 2007 and 70.4% more than in 2007.
Financial results of bank operations in AZN mln:
| Year, month | Numberof bankswith profit | Total profit of bankingsystem (on profitbearingbanks) | Numberof loss-makingbanks | Total loss of bankingsystem (on loss-makingbanks) | Totalprofit (loss)of banks |
| 01-02-2006 | 33 | 10.2 | 10 | 0.49 | 9.71 |
| 01-02-2007 | 36 | 14.85 | 7 | 1.34 | 13.51 |
| 01-02-2008 | 35 | 19 | 10 | 6.22 | 12.78 |
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