Net profit of Azerbaijan’s banking sector up by 35%

The banking sector of Azerbaijan achieved a net profit of 209.8 million manats ($123.38 million) in January-February 2024, 34.75% more than in 2023, Report informs.

In two months, the banks' operating income was 911.3 million manats ($535.92 million) (+25.3%), operating expenses were 600.3 million manats ($353.03 million) (+29.3%), loan loss provision made up 54.6 million manats ($32.1 million) (-13.5), other expenses amounted to 1.6 million manats (nearly $940,000,000) (none last year), and income tax payments accounted for 48.1 million manats ($28.28 million) (+8.8%).