Central Bank of Azerbaijan increases expenses on insurance services

BAKU, Azerbaijan, July 3. The Central Bank of Azerbaijan (CBA) spent 1.05 million manat ($620,000) on insurance services in 2022, Trend reports.

As to calculations reflected in the bank's financial report, this figure increased by 26.92 percent year on year and deductions for compulsory medical insurance amounted to 572,000 manat or $336,470 (an increase of 33.64 percent over the year).

Note that, the CBA ended 2022 with a net loss of 63.95 million manat ($37.62 million).