Net profit of Azerbaijan’s banking sector up by 10%

The banking sector of Azerbaijan achieved a net profit of 99.6 million manats ($58.58 million) in January 2024, 10.3% more than in 2023, Report informs.

Last month, the banks' operating income was 462.7 million manats ($272.18 million) (+29.2%), operating expenses were 311.7 million manats ($183.35 million) (+43.05%), loan loss provision made up 29.3 million manats ($17.23 million) (+7.3), other expenses amounted to 0.1 million manats (nearly $59,000) (remained unchanged), and income tax payments accounted for 21.9 million manats ($12.88 million) (-3.5%).