Bank Of Baku

More banks report loss in Azerbaijan

More banks report loss in Azerbaijan
# 17 March 2009 15:48 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. 11 commercial banks reported a loss in January, compared to 10 in January 2008 and 8 in the full year of 2008, said National Bank of Azerbaijan.
The total loss reached AZN 8.03 million in January, up 29.1% on a year ago.
At the same time, the number of banks reporting a profit dropped to 35 this January from 38 in 2008.
The banks’ total profit made AZN 65.56 million, up a factor of 3.3 on a year ago.
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