In the first half of 2026, Azerbaijan’s banking sector recorded a net profit of 716.3 million manats (just over $421.3 million), representing a 24.2% increase year-on-year (YoY), Report informs, citing the Central Bank of Azerbaijan (CBA).

During the six-month period, banks’ operating income reached almost 3.744 billion manats (just over $2.2 billion), up 14.3% YoY, while operating expenses totaled approximately 2.62 billion manats (just over $1.54 billion), up 10.95% YoY.

Allocations to special reserves amounted to 237.3 million manats (roughly $139.6 million), up 16.1% YoY. Unexpected expenses stood at 0.3 million manats (approximately $176,500), compared to income in the same period last year. Payments for profit tax rose by 27.6% YoY, reaching 171.1 million manats (just over $100.6 million).