Azerbaijani banking sector's net profit up by 39%

Azerbaijan's banking sector made a net profit of 345.2 million manats ($203.06 million) in January-April of this year (+39.1%), Report informs, citing the Central Bank of Azerbaijan.

During the two months, banks' operating income amounted to 1.472 billion manats ($0.87 billion) (+28.8%), operating expenses to 936.5 million manats ($550.88 million) (+26.6%), allocations to special reserves made up 101.7 million manats ($59.82 million) (+4.2%), windfall gains stood at 0.3 million manats (no gain was recorded last year) and profit tax payments accounted for 88.9 million ($52.29 million) manats (+55.7%).