BAKU, Azerbaijan, February 5. The profit tax payments by non-bank credit organizations (NBCOs) in Azerbaijan significantly grew in 2024.
Data obtained by Trend from the Central Bank of Azerbaijan shows that this figure reached 41.6 million manat ($24.3 million), marking an increase of 24.2 million manat ($14.2 million) or 2.4 times compared to 2023 (17.4 million manat or $10.2 million).
In addition, last year, the net profits of NBCOs amounted to 157.1 million manat ($92.5 million), up 81.3 million manat ($47.8 million) or 2.1 times compared to the previous year (75.8 million manat or $44.5 million).
To note, NBCO is a specialized credit institution that provides loans based on a special license and carries out other activities as specified in the law of Azerbaijan on "Non-Bank credit organizations". Currently, 57 NBCOs operate in Azerbaijan.