Net profit of Azerbaijan's banking sector decreases by nearly 19%

The banking sector of Azerbaijan earned 253.3 million manats ($149 million) of net profit in January-March 2025, Report informs, citing the Central Bank of Azerbaijan.

This figure is 18.7% less than in the same period last year.

During the first three months of 2025, banks' operating income amounted to 1.55 billion manats ($915.1 million; 14.9% more YoY), operating expenses to 1.133 billion manats ($666.8 million; 27.1% more), allocations to special reserves to 107.4 million manats ($63.176 million; 34.6% more), other income to 0.3 million manats ($176,470; 5.7 times less), and income tax payments to 61.7 million manats ($36.3 million; 15.4% less).