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Profits of Azerbaijani banks ups over 30 percent in April

Business Materials 5 June 2009 18:52 (UTC +04:00)

Azerbaijan, Baku, June 5 / Trend , N. Ismayilova/

The number of profitable banks in Azerbaijan increased from 37 to 39 in April 2009. The number is two more than April 2008, the Azerbaijani Central Bank said.

Total profit of bank system shrank 4.6 percent compared to May 1, 2008 and totaled 104.86 million manat. In April, total amount of banks' profits increased 31.6 percent.

The number of unprofitable banks decreased by two compared to April 2008 and one compared to early 2009. Eight banks lost 7.77 million manat, which is 6.9 percent more than the figure for May 1, 2008.  

Financial results of bank activities (after tax payments) with million manat:

Periods

Number of Profitable Banks

General Revenue of Banking System (Profitable Banks)

General Revenue of Banking System (Unprofitable Banks)

General Loss of Banking System (Unprofitable Banks)

Total Revenue (+) or Loss (-) of Banks

01-05-2007

36

43.92

7

6.59

37.33

01-05-2008

37

118.25

8

8.34

109.91

01-05-2009

39

112.63

7

7.77

104.86

On June 5, the official exchange rate is 0.8017 manat to $1.

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