Azerbaijani banks’ net profit down by 13%

In January-May of 2021, the net profit of the banking sector of Azerbaijan stood at AZN 273.2 million, which is 13.1% lower than the same period in 2020.

In the first five months of 2021, banks’ operating income amounted to AZN 1,169.3 million (10.1% more than a year ago), operating expenses – to AZN 743.8 million (9.8% more), allocations for special reserves – to AZN 101.7 million (22.6-fold more), unexpected incomes – to AZN 0.1 million (tenfold more), and profit tax payments – to AZN 50.6 million (23% less).