BAKU, Azerbaijan, May 2. Azerbaijan’s Kapital Bank took the first place in the ranking of local banks in terms of net profit volume for the first quarter of 2022, Trend reports.
According to the financial report of the bank, the net profit of Kapital Bank for the reporting period amounted to 50.4 million manat ($29.6 million).
The second position in the ranking was taken by the International Bank of Azerbaijan with total net profit of 39.2 million manat ($23 million).
Pasha Bank ranked third with net profit in the amount of 38.3 million manat ($22.5 million).
The total income of the first three banks in 1Q2022 amounted to 127.9 million manat ($75.2 million), which is 73.56 percent of the total net profit of all banks in Azerbaijan (173.9 million manat or $102.3 million).
Azerbaijan’s TOP-10 banks in terms of net profits for 1Q2022:
|
Banks |
Total net profit |
|
Kapital Bank |
50.4 million manat ($29.6 million) |
|
International Bank |
39.2 million manat ($23 million) |
|
Pasha Bank |
38.3 million manat ($22.5 million) |
|
Bank of Baku |
9.8 million manat ($5.7 million) |
|
Xalq Bank |
7 million manat ($4.1 million) |
|
Bank Respublika |
6 million manat ($3.5 million) |
|
VTB Bank |
5.4 million manat ($3.1 million) |
|
Rabita Bank |
5 million manat ($2.9 million) |
|
Nakhchivan Bank |
3.5 million manat ($2.06 million) |
|
Expressbank |
3.5 million manat ($2.06 million) |
The total net profit of the top ten banks amounted to 168.4 million manat ($99 million).