Net profit of Azerbaijan's banking sector rises by 8%

In January- October 2025, Azerbaijan's banking sector recorded a net profit of 986.8 million manats (approximately $580.5 million), marking an 8% increase year-on-year (YoY), Report informs, citing the Central Bank of Azerbaijan.

Over the 10-month period:

- Banks' operating income reached 5.645 billion manats ($3.320 billion), up 22.5% YoY.

- Operating expenses totaled almost 4.07 billion manats (approximately $2.39 billion), up 28.8%.

- Allocations to special reserves amounted to 346.6 million manats ($204 million), up 6.65%.

- Unexpected expenses stood at 100,000 manats ($58,823).

- Profit tax payments reached 241.6 million manats ($142.1 million), up 12.95%.