Net profit of Azerbaijani banking sector down 5%

In January-July this year, Azerbaijan’s banking sector received a net profit of 408.9 million manats, Report informs referring to the Central Bank of Azerbaijan.

This is 4.5 percent less than in the same period last year.

For seven months, banks’ operating income amounted to 1.672 billion manats (12.8 percent more than a year earlier), operating expenses – 1.078 billion manats (14.85 percent more), deductions for the creation of special reserves - 113.8 million manats (5.5 times more), unforeseen income - 0.1 million manats (unchanged), income tax payments - 71.9 million manats (24.55 percent less).