NUMBER OF UNPROFITABLE BANKS REDUCED 2 TIMES, VOLUME OF LOSSES 2,275 TIMES FOR 2005
The operations of 6 banks of Azerbaijan are actually ineffective. On the results of the first half-year of the current year 6 banks accomplished their report period with the minus figure, excluding two banks, which balance figures were not taken into account while summing up. The total loss born by these structures was 7 877 million AZM, the National Bank of Azerbaijan (NBA) told Trend.
The number of unprofitable banks decreases in the country. Thus, in the first half year of 2004 their total number was 12, and the damage they suffered was 13 305 million AZM. Early in the current year there were 14 such banks, and the damage was 39 372 million AZM. On the results of the first quarter their number dropped to 12, and the damage decreased even more, than two times вЂ" 17 924 million AZM.
Thus, the number of unprofitable banks for 2005 reduced two times, and the volume of losses вЂ" by 2,275 times.