Number of profitable banks increases in Azerbaijan

Business Materials 15 May 2013 19:51 (UTC +04:00)

Azerbaijan, Baku, May 15 / Trend /

The Azerbaijani Central Bank stressed that the total profit of profitable banks over the total loss of unprofitable banks was by more than 10-fold in the first quarter of 2013, the Azerbaijani Central Bank's statistics report said.

According to the Central Bank's report, the profit of 39 banks was 78.08 million manat and the loss of four banks - 6.92 million manat. This allowed the banking system to earn 71.16 million of net profit.

The number of profitable banks increased by three and the total profit of the sector increased by 58.3 per cent compared to the first quarter of 2013. The number of unprofitable banks reduced by four and the total loss was reduced two-fold.

The maximum profit of the banking system was fixed in 2009 at the level of 269.57 million manat, earned by 39 banks. The largest net profit was earned by the banks in 2009 to the sum of 252.98 million manat.

Financial results of the banks' activity (after paying taxes) in million manat


Number of profitable banks

The total profit of the banking system (profitable banks)

Number of unprofitable banks

The total loss of the banking system (unprofitable banks)

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

April 1,2012




- 13,42


April 1,2013




- 6,92


Around 43 banks operate in Azerbaijan.

The official exchange rate is 0, 7846 AZN/USD on May 15.