Azerbaijan, Baku, 3 Dec. / Trend , corr. N.Ismayilova / Number of profitable banks in Azerbaijan reduced from 38 to 37 in Oct 2008, whilst their number reduced to one as compared to Oct of 2008, the National Bank of Azerbaijan said.
General income of the banking system rose by 59% as compared to 1 Nov in 2007 and made up AZN 213.07mln. Number of profitable banks decreased in Oct and total amount of income rose by 18.6%.
In Sep, number of unprofitable banks increased by one and as compared to the beginning of 2008 - by two banks. Loss of eight banks amounted to AZN 15.35mln, which is twice more than the figure of the beginning of 2008.
Financial results of bank activities (after tax payments) with AZN mln:
| Periods | Number of Profitable Banks | General Income of Banking System (on profitable banks) | General Income of Banking System (on profitable banks) | General Loss of Banking System (on unprofitable banks) | Total Income (+) or Loss (-) of Banks |
| 01-11-2006 | 30 | 63.56 | 13 | 15.98 | 47.58 |
| 01-11-2007 | 38 | 134 | 5 | 4.36 | 129.64 |
| 01-11-2008 | 37 | 213,07 | 8 | 15.35 | 197.72 |
On 3 Dec, the official currency rate is 0.8091 AZN/USD
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