Net profit of Azerbaijan's banking sector rises nearly 10%

In January–November of 2025, Azerbaijan's banking sector earned a net profit of approximately 1.06 billion manats (just under $623 million), marking a 9.6% increase year-on-year, Report informs, citing the Central Bank of Azerbaijan (CBA).

During the 11-month period, banks' operating income surpassed 6.223 billion manats ($3.66 billion), up 22% compared to the previous year. Operating expenses climbed to nearly 4.522 billion manats (around $2.66 billion), a rise of 27.8%. Allocations to special reserves reached 377.1 million manats (just over $221.8 million), showing a 2% increase. Unexpected expenses amounted to 300,000 manats ($176,470), whereas the same period last year reflected income. Profit tax payments totaled 265.5 million manats (nearly $156.2 million), up 14.3%.