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Azerbaijani banks increase income by 17% in 2009

Business Materials 7 January 2010 13:37 (UTC +04:00)

Azerbaijan, Baku, Jan. 7 / Trend , N.Ismayilov /

The number of profitable banks in Azerbaijan was 37 in November. The number is one more than in previous months and November 2008, Azerbaijani Central Bank said today.

As of Dec. 1, the total profit of the banking system increased by 17 percent as compared to Dec.1 2008 and 26.2 percent compared to early 2009, reaching AZN 234.19 million. In November, the total profits of banks increased by 0.5 percent.

The number of unprofitable banks increased by one compared to early 2009. Ten banks lost AZN 16.72 million, which is 17 percent more than the figure as of Dec.1, 2008.

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

Periods

Number of banks operating with profit

Total profit of bank system (on profitable banks)

Number of banks operating with losses

Total losses of bank system (on unprofitable banks)

Summary profit(+) or losses (-), of banks

01-12-2007

40

154,11

3

3,91

150,20

01-12-2008

36

214,45

9

14,29

200,16

01-12-2009

37

250,91

9

16,72

234,19

On Jan.7, official rate is AZN 0.8030 to $1.

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