Azerbaijan sees 16% growth in banking sector's net profit

Azerbaijan's banking sector made a net profit of 997.4 million manats ($585.94 million) in January-November of this year (+16.1%), Report informs, citing the Central Bank of Azerbaijan.

During the nine months, the sector's operating income amounted to 4,393.4 million manats ($2.58 billion) (+23.8%), operating expenses to 2,828.3 million manats ($1.66 billion) (+24.9%), loan loss provision made up 315.7 million manats ($185.45 million) (+39.4%), windfall gains stood at 2.6 million manats ($1.53 million), and profit tax payments accounted for 254.6 million manats ($149.57 million) (+29.5%).