The CBA released some indicators of the banking sector for January 2022.

banks.az reports that 26 Azerbaijani banks received a total of AZN 58.6 million of net profit for the past month.

Thus, in January, the banks received interest income in the amount of AZN 189.1 million, and of them loan interests totaled AZN 158.2 million. Interest income grew by 16% compared with 2021.

Banks’ interest expenses amounted to AZN 46.3 million, non-interest income – AZN 71.5 million, non-interest expenses – AZN 91.5 million.

Thus, in January 2022, the banking sector received operating profit of AZN 89.4 million, including AZN 16.8 million directed for creation of a special reserve to cover possible losses on assets, and AZN 14 million were paid by income tax.

In 2022, the net profit of banks amounted to AZN 58.6 million, which is 2.3-fold higher than in 2021.