Baku, Azerbaijan, Sept. 4
By Zulfiyya Kurbanova - Trend:
The total profit of Azerbaijan's lucrative banks exceeds the total loss of unprofitable banks by 7.6 times as of July 2014, Central Bank of Azerbaijan (CBA) said in its report.
The profit of 36 banks was 292.82 million AZN, while the loss of eight banks stood at 38.45 million AZN, according to the report. This allowed the banking system to earn 254.37 million AZN of net profit.
The number of profitable banks remained unchanged in July 2014, compared to June, while the total profit of the sector fell by 24.6 percent. The number of unprofitable banks also remained unchanged and their total loss increased by 12 percent.
The number of profitable banks has decreased by three units in July 2014, compared to the same month of 2013, while the total profit of this sector grew by 37 percent. The number of unprofitable banks has increased from three to eight, while their total loss grew by four 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 |
|
August 1, 2013 |
39 |
213.74 |
4 |
-9.09 |
204.66 |
|
August 1, 2014 |
36 |
292.82 |
8 |
-38.45 |
254.37 |
Some 44 banks operate in Azerbaijan.
The official exchange rate on Sept.4 is 0.7843 AZN/USD.
