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Azerbaijan increases number of profitable banks in March

Business Materials 30 April 2011 14:07 (UTC +04:00)

Azerbaijan, Baku, April 30 / Trend N.Ismayilova /

The number of profitable banks in Azerbaijan amounted to 3 4 in March 2011. The figure increased by 3 compared to February and by 1 unit compared to March 2010, the Central Bank of Azerbaijan (CBA) said.

As of April 1, total profits in the banking sector (34 banks) hit 48.57 million manat. The index increased by 71.1 percent compared to February and reduced by 15.4 percent compared to the same period of last year.

The number of unprofitable banks reduced by 3 banks compared to February and annual calculation. As a result, the loss of 1 0 banks amounted to 10. 99 million manat, or 7.1 percent more compared to February and less by 43 percent in annual calcualtion.

The total profit of the banking system hit 37.58 million manat.

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

April 1, 2009

37

87,07

9

7,41

79,66

April 1, 2010

33

57,39

13

19,3

38,09

April 1, 2011

34

48,57

10

10,99

37,58

The official exchange rate is 0.79 16 manat to $1.

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