36 Azeri banks posted profit in Jan.-Oct.
36 banks in Azerbaijan were profitable in January-October 2009.
Their gross net profits amounted to 244.45 million manats ($305.56
million).
10 other banks which reported losses sustained financial damage worth 11.47m manats ($14.33m).
Total revenues of local banks made up 1.067 billion manats ($1.333 billion) in this period, 21.4m manats ($26.7m), or 2% over the same period of 2008.
According to the Central Bank, the expenses of banks increased 9.7% to 704.85m manats ($881m) in the first ten months of 2009.
Most of the revenues – 80.8% - came from interest rates. Interest rate payments accounted for 53.7% of the amount spent.*
10 other banks which reported losses sustained financial damage worth 11.47m manats ($14.33m).
Total revenues of local banks made up 1.067 billion manats ($1.333 billion) in this period, 21.4m manats ($26.7m), or 2% over the same period of 2008.
According to the Central Bank, the expenses of banks increased 9.7% to 704.85m manats ($881m) in the first ten months of 2009.
Most of the revenues – 80.8% - came from interest rates. Interest rate payments accounted for 53.7% of the amount spent.*
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