BAKU, Azerbaijan, December 23. The net profit of the banking sector in Azerbaijan increased by 245.2 million manat ($144.2 million) or 39.94 percent from January through November 2022 compared to the same period of the previous year, from 614.1 million manat ($361.2 million) to 859.4 million manat ($505.5 million manat), Trend reports via the Central Bank of Azerbaijan (CBA).
The net interest income of banks grew by 439.4 million manat ($258.4 million) or 31.51 percent over the year to 1.8 billion manat or $1.06 million (1.11 billion manat or $650 million a year earlier).
Meanwhile, the non-interest income of the banking sector increased by 301.7 million manat ($177.47 million) or 38.87 percent compared to January through November 2021 period - up to 1.07 billion manat or $630 million. The non-interest expenses increased by 385.7 million ($226.8 million or 29.98 percent ) up to 1.67 billion manat or $980 million.
At the same time, the operating profit of Azerbaijani banks reached 1.23 billion manat or $720 million (an increase of 40.21 percent over the year).
Azerbaijani banking sector's profit before taxes amounted to 1.05 billion manat ($620 million), and income tax payments – 196.6 million manat ($115.6 million), added to the CBA.