Central Bank of Azerbaijan doubled its net profit in 2024

The net profit of the Central Bank of Azerbaijan (CBA) at the end of 2024 amounted to 721.48 million manats ($424.4 million), Report informs, citing the CBA.

Compared to 2023, the bank's net profit increased by 2.1 times.

At the end of 2024, the CBA's interest income amounted to 717.56 million manats ($422.1 million) (+39.2%), interest expenses to 218.81 million manats ($128.7 million) (-27%), commission income to 27.77 million manats ($16.3 million) (-2.1%), other operating income to 7.3 million manats ($4.3 million) (+6.5 times), other operating expenses to 111.3 million manats ($65.5 million) (-1.8%).

According to the CBA's data, the bank's income from the revaluation of securities amounted to 113.93 million manats ($67 million) (+3.3 times), and income from the sale of securities amounted to 139.34 million manats ($81.96 million) (+36.7%).