Azerbaijani banking sector's net profit up over 54%

Azerbaijan's banking sector made a net profit of 90.3 million manats ($53.1 million) in January of this year (+54.1%), Report informs, citing the Central Bank of Azerbaijan.

Last month, banks' operating income amounted to 358.2 million ($210.7 million) manats (+35.8%), operating expenses 217.9 million ($128.2 million) manats (+28.4%), allocations to special reserves made 27.3 million ($16.1 million) manats (+28.2%), other expenses amounted to 0.1 million ($58,823.53) manats (there were none in the previous year), and income tax payments 22.7 million ($13.4 million) manats (+62.1%).

A total of 25 banks operate in Azerbaijan.