...

Azerbaijani banks' profit increases by 18 times per year

Business Materials 5 October 2013 13:58 (UTC +04:00)

Azerbaijan, Baku, Oct. 5 / Trend I. Khalilova /

The Azerbaijani Central Bank (CBA) stressed exceeding the total profit of profitable banks over the total loss of unprofitable banks by 18.1 times as of January-August 2013, the Azerbaijani Central Bank's statistics report said.

According to the report, around 40 banks' profit hit 238.12 million manat, and losses of 3 banks - 13.15 million manat. This allowed the banking system to earn 224.97 million manat of net profit.

The number of profitable banks increased by 7, while the total profit of the sector increased by 29.8 percent compared to the same period of 2013. The number of unprofitable banks decreased from 7 to 3 and the total loss reduced by 7.1 times.

The number of profitable banks increased by 1, while the total profit of the sector increased by 11.4 percent compared to the previous month of 2013. The number of unprofitable banks decreased from 4 to 3 and the total loss increased by 44.7 percent.

According to the report, the maximum profit of the banking system was registered in 2009 - at the level of 269.57 million manat, earned by 39 banks. The biggest net profit amount was earned by banks in 2009 at the amount of 252.98 million manat.

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

Period

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

Sept.1,2012

33

183,40

10

- 93,62

89,78

Sept.1,2013

40

238,12

3

- 13,15

224,97

Around 43 banks operate in Azerbaijan.

The official exchange rate is 0.7845 AZN/USD on Oct. 5.

Tags:
Latest

Latest