One of the leading players in Azerbaijan’s banking sector, AccessBank, has announced its financial results for the third quarter of 2024. During this period, the bank continued its stable growth, focusing on enhancing financial accessibility for its clients, while further strengthening its key financial indicators. As a result, the bank's net profit for the first three quarters of 2024 reached 41.5 million AZN, reflecting a 41.4% increase compared to the same period last year.
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Key financial highlights compared to the previous year include:
- Interest income rose by 16.5% to 165.4 million manats.
- Net interest income grew by 19.1% to 102.2 million manats.
- Non-interest income amounted to 13.7 million manats.
- Net operating profit increased 1.3 times, reaching 51.8 million manats.
As a result, AccessBank's total regulatory capital amounted to 171.3 million manats, exceeding the minimum regulatory requirement set by the Central Bank of Azerbaijan by 3.4 times.
AccessBank continues to implement its strategy to increase financial access in the country, leading to a 13.0% increase in its loan portfolio (129.3 million manats) compared to the same period last year, totaling 1,121.6 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 16.2% (121.8 million manats) compared to the same period last year, reaching 874.3 million manats.
AccessBank's assets grew by 5.1% 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 2.3% compared to 2023, reaching 1049.2 billion manats.
AccessBank, a pioneer in the microfinancing market, has been providing services to small and medium-sized enterprises since 2002. The Bank's shareholders include the Asian Development Bank, the European Investment Bank, the International Finance Corporation, and other international organizations and investment funds. With 35 branch offices, including 14 in Baku and 21 in regions, AccessBank continues to offer accessible financing options for MSMEs. For more detailed information on the branh offices, please follow: http://bit.ly/accessbank-filiallar
For more information on the services provided by AccessBank, call 151 or visit the website at www.accessbank.az. You can also follow the bank's social media accounts on Facebook, Instagram, LinkedIn.
*AccessBank CJSC operates under license No. 245 dated 25 October 2002, issued by the Central Bank of the Republic of Azerbaijan. The bank's Head Office is located at 3 Tbilisi avenue, Yasamal district, Baku city.