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Azerbaijan records more profitable banks

Business Materials 5 November 2011 15:50 (UTC +04:00)

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

Some 32 profitable banks operated in Azerbaijan in September 2011. The number increased by one bank compared to August and increased by two banks compared to the same period of 2010, the Central Bank of Azerbaijan (CBA) said.

In September, total profits in the banking sector hit 128.71 million manat, or 7.1 percent more compared to the relevant figure in August.

The number of unprofitable banks decreased by one bank in September and by 5 in annual calculation. As a result, the loss of 12 banks amounted to 19.66 million manat, or 13.2 percent less compared to August and 50.9 percent less compared to September 2010 .

Bank Financial Results (After Tax) in million manat:

Periods

Number of banks operating profitably

Total profit of the banking system (on profitable banks)

Number of banks operating in loss

Total loss of the banking system (on unprofitable banks)

Total profit (+) or loss (-) obtained by banks

01-10-2010

30

134.76

17

40.05

94.71

01-10-2011

32

128.71

12

19.66

109.05

The official exchange rate is 0.7868 manat to $5 on Nov. 5.

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