BAKU, Azerbaijan, July 12. AccessBank, your local European bank, has published its financial results for the first half of 2024. During this period, AccessBank strengthened its market position by providing reliable financial services to its customers.
For more detailed information, visit: AccessBank Announces Financial Results for the First Half of 2024
In the first half of 2024, AccessBank exhibited dynamic growth across all key financial indicators. The bank's net profit for the reporting period reached 27.2 million manats, a 39.5% increase compared to the same period last year.
Key financial highlights compared to the previous year include:
- Interest income rose by 19.3% to 107.7 million manats.
- Net interest income grew by 23.9% to 66.7 million manats.
- Non-interest income amounted to 8.6 million manats.
- Net operating profit increased 1.4 times, reaching 27.2 million manats.
As a result, AccessBank's total regulatory capital amounted to 167.4 million manats, exceeding the minimum regulatory requirement set by the Central Bank of Azerbaijan by 3.3 times.
AccessBank continues to implement its strategy to increase financial access in the country, leading to a 15.1% increase in its loan portfolio (141.7 million manats) compared to the same period last year, totaling 1.081 billion manats. The growth in the portfolio was primarily driven by microbusiness financing. Since the beginning of the year, the business loan portfolio has increased by 18.4% (130.8 million manats) compared to the same period last year, reaching 841.6 million manats.
AccessBank's assets grew by 12.2% compared to the same period last year, amounting to 1.5 billion manats by the end of the reporting period. The deposit portfolio increased by 4.5% compared to 2023, reaching 1.029 billion manats.
AccessBank, a pioneerinthemicrofinancing market, hasbeenprovidingservicestosmall and medium-sizedenterprisessince 2002. TheBank'sshareholdersincludetheAsianDevelopment Bank, theEuropeanInvestment Bank, theInternationalFinanceCorporation, and otherinternationalorganizations and investmentfunds. With 35branchoffices, including 14 inBaku and 21 inregions, AccessBank continuestoofferaccessiblefinancingoptionsforMSMEs. Formoredetailedinformation on thebranhoffices, pleasefollow: http://bit.ly/accessbank-filiallar
Formoreinformation on theservicesprovidedby AccessBank, call 151 orvisitthewebsite at www.accessbank.az. You can alsofollowthebank'ssocial media accounts on Facebook, Instagram, LinkedIn.
*AccessBank CJSC operatesunderlicenseNo. 245 dated 25 October 2002, issuedbytheCentral Bank of theRepublic of Azerbaijan. Thebank'sHead Office islocated at 3 Tbilisi avenue, Yasamal district, Bakucity.