Azerbaijan’s banking sector net profit increases by 7%

Azerbaijan's banking sector made a net profit of 609 million manats in 2021, 7.3% more than in 2020, Report informs, citing the Central Bank of Azerbaijan.

In 2021, banks' operating income amounted to 2,983,000,000 manats (15.1% more than the previous year), operating expenses - to 2,009,100,000 manats (16.2% more), allocations to special reserves - to 200,000,000 manats (52.8% more). Other incomes made up 0.7 million (up 17%) and payments for profit tax - 165.6 million (up 0.1%).