Azerbaijani banks earned AZN 914 million of net profit for 10 months
The Central Bank of Azerbaijan has published a banking review on the results of January-October 2024.
According to the document, local banks earned a net profit of AZN 913.7 million for 10 months, which is up by 0.6% from the same period of the last year.
In the reporting period, banks gained AZN 3,242 million of interest income, AZN 1,365.3 million of non-interest income, AZN4.5 million of unexpected income; incurred AZN 969.4 million of interest expenses, AZN 2,189.8 million of non-interest expenses; created a special reserve for overdue loans in the amount of AZN 325 million, and paid AZN 213.9 million of income tax.
Finance
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Auction on early redemption of government bonds with codes AZ0201040208, AZ0201040240, AZ0201040265 and AZ0201040323 ISIN, placed by the Ministry of Finance, will be held at the Baku Stock Exchange on 25 February. This was reported by the Ministry.
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The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.
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In January 2025, contributions to compulsory state social insurance in Azerbaijan totalled AZN 443.4 million. This was reported by the State Tax Service under the Ministry of Economy.
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In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).
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