Baku, Azerbaijan, May 5
By Emin Aliyev - Trend:
The Azerbaijani Central Bank (CBA) stressed exceeding the total yield of banks over the total loss by almost 4.2 times as of April 2014.
Around 34 banks' profit reached 130.52 million manat, and losses of nine banks were 30.96 million manat, according to the report. This allowed the banking system to earn 99.56 million manat of net profit.
The number of profitable banks decreased by five and the total profit of the sector increased by 67.16 percent in March 2014 compared to March 2013. The number of unprofitable banks increased from four to nine and the total loss increased by almost 4.5 times.
The maximum profit of the banking system was recorded in November 2013 at the level of 346.89 million manat earned by 38 banks, the report said. The maximum volume of net profit was earned by banks in the same months to the sum of 334.16 million manat.
:
The financial results of the banks' activity (after paying taxes) in million manat:
|
Period |
Number of profitable banks |
The total profit of the banking system (profitable banks) |
The number of unprofitable banks |
The total loss of the banking system (unprofitable banks) |
Total profit (+) or loss (-) obtained by banks |
|
April, 1,2013 |
39 |
78,08 |
4 |
-6,92 |
71,16 |
|
April 1,2014 |
34 |
130,52 |
9 |
- 30,96 |
99,56 |
As of the first quarter of 2014, there were 43 banks in Azerbaijan, namely, 42 commercial banks and one state-owned bank. There are 22 banks with foreign capital. The share of foreign capital hit from 50 to 100 percent in seven of them, up to 50 percent in 13 banks. There are also two local branches of foreign banks.
The official exchange rate is 0,7843 AZN/USD on May 5.
translated by NH
edited by CN