Azerbaijani banking sector's net profit up by 23%

Azerbaijan's banking sector made a net profit of 724.2 million manats ($426 million) in January-August of this year (+22.9%), Report informs, citing the Central Bank of Azerbaijan.

During the eight months, the sector's operating income amounted to 3,140.4 million manats ($1.8 billion) (+26.7%), operating expenses to 2,038.2 million manats ($1.2 billion) (+27.9%), loan loss provision made up 191.3 million manats ($112.5 million) (+19.9%), windfall gains stood at 0.6 million manats ($0.35 million) and profit tax payments accounted for 187.4 million manats ($110.2 million) (+38%).