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Azerbaijani banking system’s total profit increases by over third for year

Business Materials 11 August 2012 12:59 (UTC +04:00)

Azerbaijan, Baku, Aug. 11 / Trend A.Akhundov /

The number of profitable banks in Azerbaijan amounted to 35 as of end of first half-year, decreasing by one compared to first quarter 2012 and by two compared to the first half-year of 2011, the Azerbaijani Central Bank said.

Total profit of the banking sector increased by 2.21 times in the second quarter and amounted to 109.05 million manat for the first half-year, which is 36.62 percent more compared to January-June 2011.

The number of unprofitable banks increased by 1 up to 9 during the quarter, which is 2 units less compared to the same period last year.

Loss of 9 banks amounted to 98.8 million manat, which is 9.45 times more compared to the first half-year 2012.

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

Periods

Number of Profitable Banks

General Revenue of Banking System (Profitable Banks)

Number of unprofitable banks

General Loss of Banking System (Unprofitable Banks)

Total Revenue (+) or Loss (-) of Banks

01-07-2011

33

79,82

11

10,45

69,37

01-07-2012

35

109,05

9

98,8

10,25

The official exchange rate is 0.7856 AZN to $1 on Aug. 11.

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