Azerpocht, the national postal operator under the Ministry of Digital Development and Transport, has released its financial performance for the first half of 2023. Afgan Jalilov, Chairman of the Board of Directors, announced during a briefing that the company achieved an operating profit of 4.2 million manats and a net profit of 2.3 million manats from January to June. Compared to the same period last year, Azerpocht's revenues increased by 33 million manats, while expenses rose by 16%, reaching 31 million manats. The major portion of the increased expenses, 55%, was attributed to payroll expenses, which rose by 15% due to the country's minimum wage being raised from 300 manats to 345 manats. A goal was set for 2023 to increase the monthly income of Azerpocht employees, and by the first quarter, 540 employees saw their salaries raised to 500 manats. The postal sector is a significant segment of the telecommunications market with high engagement from the population, and it requires constant improvement. Azerpocht aims to meet modern requirements and keep pace with the times by implementing reforms and introducing new services in postal communication. In addition to traditional postal services, the national post also provides financial services, including international and local money transfers, which are used conveniently by citizens. There are plans to enhance all financial services offered by the postal operator, with a focus on electronic payments. Efforts are underway to expand express mail services to meet international standards. The company is also considering the possibility of transforming Azerbaijan's postal system into an international transit hub. Azerpocht LLC boasts an extensive network of 1600 branches across the country, and the introduction of new services, particularly financial ones, aims to make this advantage more beneficial for citizens. The company currently offers financial services in more than one thousand post offices based on a license issued by the Central Bank of Azerbaijan. However, the provision of loans and accepting deposits will be considered when the legislative framework is established.
Source: Turan News Agency