BAKU, Azerbaijan, August 24. The net profit of Azerbaijani banks for the first seven months of 2023 amounted to 655.3 million manat ($385.5 million), Trend reports.
According to the Central Bank of Azerbaijan's statistical bulletin, operating profit amounted to 931.4 million manat ($547.9 million).
The net and operating profits of banks increased by 33.03 percent and 25.63 percent, respectively, compared to the same period last year.
The profit of the banking sector before taxes reached 818.7 million manat ($481.6 million), and income tax payments amounted to 163.4 million manat ($96.1 million).
Total assets of banks in Azerbaijan exceeded 45.9 billion manat ($27 billion), total liabilities were 39 billion manat ($22.9 billion), and total capital was 5 billion manat ($2.9 billion) as of July 31, 2023.
According to the Central Bank of Azerbaijan, assets, liabilities, and capital of the banking sector increased by 7.91 percent, 7.11 percent, and 13.62 percent, respectively, compared to the same period in 2022.