Azerbaijan's banking sector net profit rises over 29%

In January–May 2026, Azerbaijan's banking sector recorded 557.1 million manats (just over $327.7 million) in net profit, Report informs, referring to the Central Bank of Azerbaijan (CBA).

According to the CBA's data, this marks a 29.35% increase compared to the same period last year.

During the reporting period, banks' operating income exceeded 3.044 billion manats (just over $1.79 billion), up 12.7% year-on-year (YoY), while operating expenses reached almost 2.173 billion manats (approximately $1.28 billion), up 27.3%YoY.

Additionally, allocations to special reserves amounted to 179.5 million manats (approximately $105.6 million), down 9.7% YoY, and profit tax payments stood at 134.7 million manats (just over $79.2 million), up 23.6% YoY.