Baku, Azerbaijan, July 17
Trend:
Xalq Bank continued its stable growth by all key indicators in 2Q2018.
The Bank's assets increased by 9.04 percent and amounted to 1.977 billion manats in the six months of 2018, the bank statement released July 17 says.
The volume of the loan portfolio for the second quarter increased by 1.37 percent and reached 1.330 billion manats. This is the highest rate among private banks in Azerbaijan.
The total capital of the bank as of July 1, 2018 amounted to 279.693 million manats, the authorized capital – to 225.078 million manats. The volume of deposits placed by clients in Xalq Bank increased by 4.33 percent in the first half of the year and reached 1.221 billion manats. The bank finished the quarter with a net profit of 12.318 million manats.
In addition, the Moody's Investors Service international agency confirmed the rating of Xalq Bank on long-term obligations in local and foreign currencies at the level of B3 and improved the outlook on the rating to the "positive" level in July of this year.
"Financial and economic activities of Xalq Bank for 1H2018 prove its leading position in the banking sector of Azerbaijan," the statement says.