Azerbaijan sees 18% growth in banking sector's net profit

Azerbaijan's banking sector made a net profit of 908.2 million manats ($534.24 million) in January-October of this year (+18%), Report informs, citing the Central Bank of Azerbaijan.

During the nine months, the sector's operating income amounted to 3,948.7 million manats ($2.32 billion) (+24.1%), operating expenses to 2,536.9 million manats ($1.49 billion) (+25.3%), loan loss provision made up 268.4 million manats ($157.88 million) (+27.9%), windfall gains stood at 2.6 million manats ($1.53 million), and profit tax payments accounted for 237.8 million manats ($139.88 million) (+33.6%).