OREANDA-NEWS.  February 10, 2012. Azerbaijan’s banking sector cannot recover from the crisis, the peak of which in it was recorded in 2010.

The Central Bank of Azerbaijan reports that in 2011 domestic banks’ profits before taxation amounted to only AZN 160.8 million compared to AZN 140.07 million in 2010, AZN 281.09 million in 2009 (a record in doemstic bank sector history) and AZN 246.03 million in 2008. At that, banks’ net profit for 2011 amounted to AZN 141.37 million against AZN 120.27 million in 2010, AZN 252.98 million in 2009 (an absolute record) and AZN 184.68 million in 2008.

The CBA informs that 31 banks operated with net profit of AZN 187.6 million in 2011, 32 banks in 2010 (AZN 165.8 million), 39 banks in 2009 (AZN 269.57 million), and 38 banks in 2008 (AZN 192.08 million). The 7 banks sustained net loss of AZN 46.26 million in 2011, 13 ones (AZN 45.57 million) in 2010,  7 ones (AZN 16.59 million) in 2009, 8 (AZN 7.4 million) in 2008.

Paradoxically, but in 2011 the banks have a record interest (AZN 1.099 bn) and non-interest income (AZN 320.98 million).