Azerbaijan's banking sector sees 35% growth in net profit 

The banking sector of Azerbaijan made a net profit of 769.9 million manats ($452.88 million) in January-October 2022, 35.05% more than a year ago, Report informs, citing the Central Bank of Azerbaijan.

Within the first ten months of 2022, banks' operating income was 3,182.7 million manats ($1.87 billion), or 30.8% more than a year ago, operating expenses were 2,024.4 million manats ($1.19 billion), or 27.3% more than a year ago, allocations to special reserves were 209.8 million manats ($123.41 million), or 28.2 % more year-on-year, unexpected expenses amounted to 0.5 million manats (nearly $0.3 million), and income tax payments amounted to 178 million manats ($104.71 million), or 62.3% more year-on-year.