BAKU, Azerbaijan, May 8. Azerbaijan International Bank (AIB) has ended the year with a robust net profit and a record high in shareholder dividends, marking the bank's continued stability and success over the past six years, said Abbas Ibrahimov, Chairman of AIB's Board of Directors, Trend reports.
Speaking today at a press conference for the bank’s sustainability report, Ibrahimov stated that for the first time since the bank's public offering, it will distribute profits to its shareholders, now exceeding 30,000. This comes as IBA wraps up 2024 as one of the most successful years in its strategic development, achieving a net profit of 360 million manat ($211.7 million).
"Our bank's operating income increased by 13.6 percent in 2024 compared to the previous year. The financial results for the year show that we contributed 131 million manats in taxes and other payments to the state budget. Our loan portfolio saw a significant increase of 1.3 billion manat ($.764.7 million), or 25.8 percent. We also expanded our business loan portfolio by 614 million manat ($361.1 million). As a result, we have emerged as the market leader in both business and mortgage loans," he said.
The bank’s chairman announced that ABB’s customer base has now surpassed 4 million.
"Our active customer count has seen a record increase of 32 percent over the past year. Remarkably, 65 percent of new customers who joined us in 2024 did so through digital channels, without visiting a physical branch. Following the restoration of Azerbaijan's territorial integrity, we became the first bank to open a branch in Khankendi in 2024. To enhance accessibility for our customers, we launched three new branches and revamped seven existing ones to align with our brand identity," he added.
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