Net profit of Azerbaijan's banking sector rises nearly 26%

In January–July 2026, Azerbaijan's banking sector recorded a net profit of 858.7 million manats (just over $505.1 million), marking a 25.8% increase compared to the same period last year, Report informs, citing the Central Bank of Azerbaijan (CBA).

During the seven‑month period, the country's banks generated 4.403 billion manats (approximately $2.59 billion) in operating income (up 13.25% year‑on‑year) and incurred 3.057 billion manats (almost $1.8 billion) in operating expenses (up 9.25%).

In the specified period, allocations to special reserves totaled 273.4 million manats ($160.8 million), representing an increase of 13% YoY, while unexpected expenses amounted to 0.3 million manats (approximately $176,500).

Additionally, profit tax payments reached 213.4 million manats (just over $125.5 million), a 28.8% increase compared to the previous year.