Baku, Azerbaijan, Feb.6
By Abbas Akhundov - Trend:
The Azerbaijani Central Bank (CBA) stressed it exceeded the total yield of profitable banks over the total loss of unprofitable banks by almost 57.3 times as of 2013, the Azerbaijani Central Bank's statistical report said.
Around 39 banks' profit reached 272.32 million manat, and losses of three banks were 4.75 million manat, according to the report. This allowed the banking system to earn 267.57 million manat of net profit.
The number of profitable banks increased by one and the total profit of the sector decreased by 21.5 percent in December compared to November, 2013. The number of unprofitable banks reduced from five to four and the total loss reduced by almost 2.68 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.
Financial results of the banks' activity (after paying taxes) in million manat
|
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 |
|
Jan.1, 2013 |
33 |
195.51 |
10 |
-65.50 |
130.01 |
|
Jan.1, 2014 |
39 |
272.32 |
4 |
- 4.75 |
267.57 |
Some 43 banks operate in Azerbaijan.
The official exchange rate on Feb.5 is 0.7843 AZN/USD.
Translated by L.Z.
Edited by S.M.