Six banks were unprofitable last year

The number of banks that made profit in the reporting period, increased from 28 to 36. According to APA, 44 banks operate in the country at present.

The Azerbaijan National Bank (Central Bank) informed APA that total reserves of banks on possible losses on assets increased 50.7% and reached AZN 50.74 million manats. Incomes on calculated interests were AZN 175.5 million manats, expenses 58.2 million and profit 117.3 million manats.

The National Bank informed that six banks (excluding two banks indications of which were not shown in the final report) functioned at a loss in the amount of AZN 2.35 million manats. The number of banks running at a loss reduced twice and total amount of their loses declined 70%.