BAKU, Azerbaijan, February 25. The net profit of Azerbaijan’s banking sector totaled 90.3 million manat ($53.1 million) in January 2023, Trend reports citing the Central Bank of the country.
According to the report, this figure increased by 54.1 percent compared to the same period of 2022 (31.9 million manat, $18.76 million)
The banks’ net interest income amounted to 200.6 million manat ($117.98 million), growing by 62.2 million manat ($36.58 million) or 44.94 percent against the same period of 2022 (138.4 million manat or $81.4 million).
The non-interest income of the banking sector reached 84.6 million manat or $49.7 million (rising by $5.9 million or 13.56 percent), while non-interest expenses stood at 150.7 million manat or $88.6 million (growing by $16.05 million or 22.12 percent).
In addition, the operating profit of Azerbaijani banks reached 134.5 million manat or $79.1 million (an increase of 50.28 percent year over year).
The Azerbaijani banking sector’s profit before taxes made up 113 million manat ($66.46 million), whereas income tax payments amounted to 22.7 million manat ($13.35 million).