Net profit of Azerbaijan"s banking remains unchanged

In January-July of 2025, the banking sector of Azerbaijan made a net profit of 682.8 million manats (about $401.6 million), remaining unchanged year-on-year, Report informs, citing the Central Bank of Azerbaijan.

During this period, operating income across Azerbaijani banks exceeded 3.888 billion manats (around $2.287 billion), reflecting a 19.95% increase year-on-year.

Furthermore, operating expenses totaled over 2.798 billion manats (about $1.646 billion), while allocations to special reserves reached 242 million manats (roughly $142.3 million), marking annual growth rates of 27.2% and 16.9%, respectively.

Additionally, banks recorded unexpected income of 0.6 million manats (approximately $352,941) for the reporting period, while income tax payments amounted to 165.7 million manats (around $97.4 million), a fourfold decrease and an 8% increase, respectively, compared to the same timeframe in 2024.