BAKU, Azerbaijan, October 25. The net profit of Azerbaijan's banks amounted to 832.9 million manat ($489.9 million) from January through September 2023 (21.9 percent up year-on-year), Trend reports.
The data in the statistical bulletin of the Central Bank of Azerbaijan (CBA) shows that operating profit amounted to 1.2 billion manat or $705.8 million (25.6 percent growth).
Banks' interest income amounted to 2.5 billion manat or $1.4 billion (32 percent growth) from January through September 2023, including 1.9 billion manat ($1.1 billion) on issued loans (19.1 percent growth). Banks' non-interest income amounted to 988.5 million manat or $581.4 million (13.6 percent growth).
Interest expenses of banks amounted to 628.7 million manat, or $369.8 million (34.5 percent growth), including 449.2 million manat ($264.2 million) on deposits (38.7 percent growth). Non-interest expenses of banks amounted to 1.6 billion manat, or $941.1 million (24.5 percent growth).
The pre-tax profit of the banking sector reached 1 billion manat ($588.2 million), and income tax payments amounted to 214.7 million manat ($126.2 million).
Total assets of banks exceeded 45.5 billion manat ($26.7 billion) as of September 30, 2023.