BAKU, Azerbaijan, June 12. The Central Bank of Azerbaijan (CBA) completed 2025 with a profit.
This was announced in the report by the CBA.
According to the International Financial Reporting Standards (IFRS), the revenues of the CBA amounted to 1.06 billion manat ($624 million) as of December 31, 2025.
The information says that 863.8 million manat ($508.1 million) of revenues came from interest, revaluation, and conversion income generated through the management of foreign currency assets. Another 69.5 million manat ($40.9 million) was generated from interest income on securities acquired in the domestic market, 6.9 million manat ($4.1 million) from interest on centralized credit resources, and 18.5 million manat ($10.9 million) from services provided to customers.
In addition, 8.8 million manat ($5.2 million) came from the amortization of financial assets, 0.7 million manat ($412,000) from changes in the fair value of those assets, and 0.7 million manat ($412,000) from income generated through derivative financial instruments in the domestic market.
Meanwhile, 12.8 million manat ($7.5 million) was generated from the reversal of provisions created for financial assets classified at amortized cost, while 14.5 million manat ($8.5 million) came from the sale of commemorative and investment banknotes, the revaluation of investment property, and other income sources. Accounting income from the revaluation of foreign exchange positions amounted to 63.4 million manat ($37.3 million).
During the reporting period, the CBA's total expenses amounted to 334.8 million manat ($197 million), of which 211.6 million manat ($124.5 million) were operating expenses.
Operating expenses mainly stemmed from costs incurred through the CBA's sterilization operations, including 114.9 million manat ($67.6 million) in interest expenses on deposits attracted from banks, 27.8 million manat ($16.4 million) on CBA notes, and 13.7 million manat ($8.1 million) on repo transactions conducted with banks.
In addition, operating expenses included 2.2 million manat ($1.3 million) in commission expenses related to operations in international financial markets, 31.5 million manat ($18.5 million) in interest expenses associated with the State Treasury Agency, the State Oil Fund of Azerbaijan, and the Deposit Insurance Fund, 3.8 million manat ($2.2 million) in net interest expenses related to the International Monetary Fund, 3 million manat ($1.8 million) for the transportation of foreign cash currency, and 14.7 million manat ($8.6 million) for the production and transportation of paper and metal coins, including commemorative and anniversary issues.
After operating expenses, the remaining 123.2 million manat ($72.5 million) of the Central Bank's expenditures consisted of administrative and other conventional costs. These included 65.2 million manat ($38.4 million) for employee salaries and contributions to the State Social Protection Fund, 28.8 million manat ($16.9 million) in depreciation expenses for fixed assets and intangible assets, and 29.2 million manat ($17.2 million) in other routine expenses, including software and server support, maintenance and security of administrative buildings, business travel, and related costs.
As a result, the CBA's financial activities generated a profit of 724.8 million manat ($426.4 million) in 2025, while retained realized profit amounted to 586.0 million manat ($344.7 million).
As of December 31, 2025, the CBA's total capital stood at 2.15 billion manat ($1.27 billion). This included 33.3 million manat ($19.6 million) in reserves recognized through other comprehensive income for the revaluation of foreign currency positions, 6 million manat ($3.5 million) in accounting gains from the revaluation of securities measured at fair value through other comprehensive income, and 1.12 billion manat ($656 million) in retained earnings.
In 2025, 542.2 million manat ($318.9 million) from the retained profit generated in the previous year (2024) was transferred to the State Debt and Guarantee Obligations Support Fund.
