The banking sector of Azerbaijan made a net profit of 400.8 million manats ($236.11 million) in the first half of 2022, 9.4% more than a year ago, Report informs, citing the Central Bank of Azerbaijan.
Within the first six months of 2022, banks' operating income was 1.79 billion manats ($1.05 billion), or 25.5% more than a year ago, operating expenses were 1.155 billion manats ($680.42 million), or 27% more than a year ago, allocations to special reserves were 146.8 million manats ($86.48 million), or 65.3 % more year-on-year, unexpected expenses amounted to 0.4 million manats (over $235,600), and income tax payments amounted to 88.3 million manats ($52.01 million), or 40.6% more year-on-year.
($1 – 1.7 AZN on July 26)