Net profit of Azerbaijan’s banking sector up by 16%

The banking sector of Azerbaijan achieved a net profit of 311.5 million manats ($183.24 million) in January-March 2024, 16.3% more than in 2023, Report informs.

In three months, the banks' operating income was 1,354.5 million manats ($0.8 billion) (+22.8%), operating expenses were 892 million manats ($524.71 million) (+28.6%), loan loss provision made up 79.7 million manats ($46.88 million) (+8.6), other income amounted to 1.7 million manats (nearly $1 billion) (+17-fold), and income tax payments accounted for 72.9 million manats ($42.88 million) (+6.6%).