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Over first 6 months profitability of Azeri banking system increase 23.7%

Business Materials 27 July 2006 10:56 (UTC +04:00)

In the first half-year the number of banks, working on profit, rose to 37 against 35 in 2005. The National Bank of Azerbaijan told Trend the total profits of the banking system rose 23.7% as compared to 2005 РіРѕРґР° and constituted 35.04m manats. The figures doubled as compared to 31 March 2006, but dropped 22.2% as compared to 31 December 2005.

The number of banks in loss remained the last year level and comprised 6. Their loss as a result of the half-year is 1.61m manats, or 1.9% more than 2005, but 31.5% less than the end of 2005.

Financial results of banks activities (upon payment of taxes), in mln manats:

Period

Number of working on profit

Total profits of banking system

(banks in profit)

banks in profit)

Number of banks,

Working in loss

Total profits of banking system

(banks in loss)

Profit (+) or loss, obtaid ined by banks

30-06-2005

35

28,33

6

1,58

26,75

31-12-2005

36

45,01

6

2,35

42,66

31-03-2006

37

17,32

6

0,88

16,44

30-06-2006

37

35,04

6

1,61

33,43

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