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AccessBank disclosed its financial statements for 2022

Economy Materials 24 January 2023 17:02 (UTC +04:00)
AccessBank disclosed its financial statements for 2022

AccessBank, a leader in micro, small and medium enterprises market, announced its financial results for 2022.

For more detailed information, please follow the link: https://www.accessbank.az/az/our-bank/in-figures/

The Bank demonstrated dynamic growth across all key indicators during 2022 and maintained its leadership position in business financing. During 2022, AccessBank achieved a sharp increase of its operational incomes.

  • The Bank’s assets increased by 1.1% during the quarter, and by 25.4% since the beginning of the year. Currently, it’s amounted to AZN 1.2B.
  • Loan portfolio increased by 6.3% during the quarter, and by 28.6% since the beginning of the year. Currently, it’s amounted to AZN 813.5M.
  • 78% of loan portfolio is business loans. Business portfolio increased by 17.5% or by AZN 95M during this year. 57% of business loans has been disbursed by regional branches during this year.
  • Deposit portfolio increased by 7.2% during the quarter, and by 24.7% since the beginning of the year. Currently, it’s amounted to AZN 860M.
  • Term deposits of population increased by 7.7% during the quarter, and by 29% since the beginning of the year. Currently, it’s amounted to AZN 597M.
  • Interest income as compared to the same period of 2021 increased by 39% and exceeded AZN 140M. Net interest income as compared to the same period of 2021 increased by 52% and reached AZN 82M.
  • Non-interest income increased by 20% and exceeded AZN 13M as compared to the same period of the last year.
  • Net operational profit increased by several times and is amounted to AZN 23M. During QIV, net operational profit of the Bank increased by 75% as compared to QIII of the current year.
  • Final net profit increased by several times during the year as compared to the results of 2021 and reached AZN 15M. The Bank’s net profit during QIV increased up to 3 times as compared to QIII of this year.
  • Total capital of the Bank increased by 27% or by AZN 21.5M during the last year and exceeds AZN 101M, that is twice the minimum threshold required by CBA. This increase became possible both due to the additional capital injection of shareholders, and to the profit obtained by the Bank. In November, 2022, the Bank increased its capital base by AZN 11.4M due to new investment of existing shareholders.
  • The Bank’s liquidity ratio is amounted to 64.1%, that is twice higher than the minimum standard required by CBAR (30%).

The Chairman of AccessBank’s Management Board, David Tsiklauri commented on the annual financial results: “At AccessBank, throughout 2022, our entire team has remained committed in supporting our customers across our MSME and Retail business lines. Their dedication has led the Bank to a profit of AZN 15m for the 12 months of 2022 and significant growth of our loan book, which remains strong, and of good quality. This year AccessBank has crossed AZN 1bn mark in terms of assets and continues to grow further. We are confident that we will constantly improve many aspects of our bank, deliver even stronger results and continue to support micro and small businesses in the country for years to come.”

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