According to the Central Bank of Azerbaijan, the banking sector's net profit for 7 months of 2024 amounted to 858.7 million manats, up 26% year-on-year.
AI will summarize what happened, why it matters and what it means for business.
According to the statistical bulletin published by the Central Bank of Azerbaijan (CBA), as of July 30 of this year, the net profit of Azerbaijan's banking sector amounted to 858.7 million manats.
Calculations based on CBA data show that this is 175.9 million manats, or 26%, more compared to the same period last year.
Additionally, the bank's data show that over 7 months of this year, banks paid a total of 213.4 million manats in profit tax.
net profit of Azerbaijan's banking sector for the same period was 682.8 million manats
Azerbaijan's banking sector net profit reached 858.7 million manats, up 26% from the same period last year.
The profit growth trend is expected to continue if the economic situation remains stable.
The Central Bank of Azerbaijan runs monetary policy and oversees the manat and the financial sector.