Net profit of banks in Azerbaijan fell to 73.1 million manats ($43 million) in January-February 2021, down 25.3 percent from the same period last year, Turan news agency reported.

Banks paid taxes in the amount of 16.2 million manats in the first two months of this year, 9.4 percent less than in January-February in 2020.

Net interest income decreased by 2.9 million manats or 1.2 percent to 227.2 million manats, while operating profit fell by 9.2 million manats (6.2 percent) to 137 million manats.

There are 26 banks in Azerbaijan, of which one, the International Bank of Azerbaijan, is state-owned.