Baku, Azerbaijan, Nov. 1
By Azad Hasanli - Trend:
The total profit of Azerbaijan's lucrative banks exceeds the total loss of unprofitable banks by 11 times as of September 2014, Central Bank of Azerbaijan (CBA) said in its report.
The profit of 38 banks was 348.52 million AZN, while the loss of six banks stood at 31.33 million AZN, according to the report. This allowed the banking system to earn 317.19 million AZN of net profit.
The official exchange rate on Nov.1 is 0.7844 AZN/USD.
The number of profitable banks increased by 2 compared to August 2014, and the total profit of the sector increased by 2.5 percent and reduced by 1 unit (an increase of 27.98 percent) since the beginning of the year. The number of unprofitable banks reduced by 2 in September 2014 and their total loss decreased by 26.2 percent and increased by 2 banks (6.6 times increase) since early 2014.
The number of profitable banks remained unchanged in September 2014, compared to the same month of 2013, while the total profit of this sector grew by 33.9 percent. The number of unprofitable banks has increased from five to six, while their total loss grew by 2.3 times.
|
Periods |
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 |
|
November 1, 2013 |
38 |
260,29 |
5 |
-13,62 |
246,67 |
|
November 1, 2014 |
38 |
348,52 |
6 |
-31,33 |
317,19 |
Some 44 banks operate in Azerbaijan.