Azerbaijan, Baku, Dec. 3 / Trend N.Ismayilova /
The number of profitable banks in Azerbaijan increased to 31 in October. The figure reduced by 5 compared to October 2009 and increased by 1 compared to the previous month, the Central Bank of Azerbaijan (CBA) said.
Total profits in the banking sector declined by almost 60.2 percent compared to October 2009, and by 2.1 percent compared to the previous month. The figure hit 92.74 million manat.
The number of unprofitable banks decreased by one, compared to September and increased by 6 by October last year. As a result, the loss of 16 banks amounted to 41.21 million manat, or 2,9 percent more than in September, and almost 3.6 times more than for the corresponding period of last year.
Bank Financial Results (After Tax) in million manat:
|
Periods |
The number of banks operating profitably |
The total profit of the banking system (on profitable banks) |
The number of banks operating in loss |
The total loss of the banking system (on unprofitable banks) |
Total profit (+) or loss (-) obtained by banks |
|
01-11-2008 |
37 |
213,07 |
8 |
15,35 |
197,72 |
|
01-11-2009 |
36 |
244,45 |
10 |
11,47 |
232,98 |
|
01-11-2010 |
31 |
133,95 |
16 |
41,21 |
92,74 |
The official exchange rate is 0.8 manat to $1.