Banks in Azerbaijan see 16% growth in net profit

The net profit of Azerbaijani banks amounted to AZN 49.4 million in January 2020, up 16% from the previous year.

Report informs citing the Central Bank of Azerbaijan (CBA) that the operating incomes rose by 1.5% to AZN 217,600,000, operating expenditures went up 9% to AZN 141,500,000, allocations for special reserves slid 46.8% to AZN 20.9 million, profit tax ascended by 7.55% to AZN 5.7 million.