Baku, Azerbaijan, July 3
By Zulfiyya Gurbanova - Trend:
The Central Bank of Azerbaijan (CBA) has announced that as of late May 2014 the total profit of Azerbaijani banks exceeded their total loss by over seven times.
There are 44 banks in Azerbaijan.
The incomes of 34 banks over this period stood at 237.48 million AZN, while losses of 10 banks amounted to 32.57 million AZN, according to a statistical report from the CBA. This allowed the banking system to earn a net profit of 204.91 million AZN.
The banking sector's total profit grew by 63.4 percent. This is while there were five profitable banks less in the country in May 2014, as compared to the same month of 2013.
Meanwhile, the number of unprofitable banks increased from four to 10 compared to the same month of 2013, while the total loss rose by over fourfold.
|
Periods |
Number of banks with profit |
Total profit of banking system (on profit- bearing banks) |
Number of non-profitable banks |
Total loss of banking system (on loss-making banks) |
Total profit (+) or loss (-) of the banks |
|
01.07.2013 |
39 |
145.31 mln AZN |
4 |
-8.12 mln AZN |
137.20 mln AZN |
|
01.07.2014 |
34 |
237.48 mln AZN |
10 |
-32.57 mln AZN |
204.91 mln AZN |
The official exchange rate is 0.7844 AZN/USD as of July 3.
Edited by S.I.
