16:32 - 3.07.2026

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July 3, Fineko/abc.az. The financial situation of Baku Stock Exchange CJSC (BSE) for 2025 has become known.

ABC.AZ informs, referring to BSE’s report, that the Exchange earned 3,268,000 manats in operating income in 2025. In 2024, operating income totaled 2.562 million manats. This means that these earnings increased by 706,000 manats, or 27.6%, over the course of a year.

Other service revenues amounted to 389,000 manats (301,300 manats, or 4.4-fold more than in 2024 - 87,700 manats).

Last year, BSE’s overall earnings totaled 3,657,000 manats (1.008 million manats, or 38.1% more than in the previous year).

BSE's expenses on salaries and personnel reached 3.14 million manats. These expenses increased by 814,000 manats, or 35%, compared to the previous year. In 2024, these expenses totaled 2.327 million manats.

General and administrative expenses amounted to 1.857 million manats (594,000 manats, or 47% more than in 2024 - 1.263 million).

Depreciation expenses for property, equipment, and fixed assets amounted to 436,000 manats. In 2024, these expenses were 384,000 manats. In other words, there was an increase of 52,000 manats over the year - 13.5%. The cost of amortization of intangible assets amounted to 130,400 manats (4,100 manats/3.2% more).

In 2025, BSE’s overall operating expenses totaled 5.564 million manats (1.463 million/35.7% more than in 2024).

Expenses exceeded total revenues, and operating loss of 1.907 million manats was recorded. The operating loss for the year also increased by 456,000 manats, or 31.4%.

BSE’s interest income decreased due to rising expenses. Last year, interest income amounted to 296,700 manats (101,100 manats, or 25.2%, less than in 2024 - 396,800 manats).

Financial expenses totaled 235,600 manats (101,100 manats,  (73.9%) more in annual comparison. The expected credit losses amounted to 40,200 manats, although no losses were recorded in this area in 2024.

Last year, the company received 131,000 manats of profit from the sale of property, equipment, and intangible assets. In 2024, this profit totaled 17,400 manats (a rise of 113,600 manats, or 7.5-fold).

The net loss from exchange rate differences amounted to 15,100 manats, showing annual increase of 12,400 manats, or 5.6-fold).

As a result, the BSE ended 2025 with loss of 1.758 million manats (758,400 manats, or 75.9%, more than in 2024).

For reference, the BSE has been operating at a loss for the past 5 years. Thus, BSE’s loss reached 270,000 manats in 2021, 256,100 manats in 2022, 367,900 manats in 2023, and 999,600 manats in 2024. In 2020, the BSE reported profit of 826,100 manats.