Azerbaijan-based banks see 27% growth in net profit

The net profit of the banking sector of Azerbaijan made up 248.1 million manats ($145.94 million) in January-April 2022, 27.4% more than the same period of 2021, Report informs, citing the Central Bank of Azerbaijan.

Operating income of banks in the four months of 2022 amounted to 1.142 billion manats ($$0.67 billion), up 27.1% from the same period in 2021), operating expenses - to 739.8 million manats ($435.18 million) (+ 26.5%), allocations for special reserves - to 97.6 million manats ($$57.41 million) (+28.1%), profit tax - to 57.1 million manats ($33.6 million) (+31.6%).