Azerbaijani banks’ net profit down by 9%

In the first quarter of 2021, the net profit of the banking sector of Azerbaijan stood at AZN 148.8 million, which is 8.7% lower than the same period in 2020.

In the first two months of 2021, banks’ operating income amounted to AZN 666.1 million (1.4% less than a year ago), operating expenses – to AZN 430.7 million (2% less), allocations for special reserves – to AZN 53.6 million (11.4% more), unexpected expenses – to AZN 1.9 million, and profit tax payments – to AZN 32.1 million (28.9% more).