Azerbaijan, Baku, March 3 / Trend N.Ismayilova /
The number of profitable banks in Azerbaijan amounted to 29 in January 2011. The figure reduced by 3 compared to late 2010 and 4 compared to January 2010, the Central Bank of Azerbaijan (CBA) said.
Total profits in the banking sector declined by almost 10.4 times compared to January 2010. The figure hit 1.67 million manat.
The number of unprofitable banks increased by two units compared to December 2010 and January 2010. As a result, the loss of 15 banks amounted to 16.12 million manat, or 30 percent more than in January 2010. Some 29 banks completed the report period with a profit, whose profits reached 14.45 million manat, which is two times less compared to the same period last year.
Bank Financial Results (After Tax) in million manat:
|
Per |
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 |
|
01-02-2009 |
35 |
62,56 |
11 |
8.03 |
54.53 |
|
01-02-2010 |
33 |
28.08 |
13 |
12.42 |
15.66 |
|
01-02-2011 |
29 |
14.45 |
15 |
16.12 |
-1.67 |
The official exchange rate is 0.7940 manat to $1 on March 3.