BAKU, Azerbaijan, June 5. The revenues of the Central Bank of Azerbaijan (CBA) totaled 1.06 billion manat ($628 million) as of December 31, 2024, according to the International Financial Reporting Standards (IFRS).
The data obtained by Trend from the CBA shows that 885.9 million manat ($522.7 million) of the total came from interest, revaluation, and conversion revenues related to the management of foreign currency assets; 51.3 million manat ($30.3 million) came from interest revenues on securities obtained in the domestic market; 11.4 million manat ($6.7 million) came from interest on centralized credit resources; and 18.1 million manat ($10.7 million) came from services provided to customers.
During the reporting period, the CBA’s total expenses amounted to 343.1 million manat ($202.4 million), of which 156.4 million manat ($92.3 million) were operational expenses. These operational expenses mainly resulted from sterilization operations conducted by the Central Bank, including 58.5 million manat ($34.5 million) in interest on deposits attracted from banks, 64.9 million manat ($38.3 million) on the CBA notes, and 0.9 million manat ($0.5 million) on repo transactions with banks.
As a result, the CBA’s financial operations for 2024 concluded with a profit of 720.9 million manat ($425.3 million), and the retained earnings from realized profit amounted to 552.5 million manat ($326 million).
The Central Bank (previously known as the National Bank) was founded in the Republic of Azerbaijan by a decree from the President on the 'Establishment of the National Bank in the Republic of Azerbaijan' dated 11 February 1992. A legal framework enables the Central Bank to more effectively fulfill its objectives and functions across all operational domains, delineating its primary responsibilities: formulating and executing monetary and exchange rate policy, overseeing currency circulation, regulating and advancing centralized interbank and other licensed payment systems, and managing gold and foreign exchange reserves.
