BAKU, Azerbaijan, April 28. International Bank of Azerbaijan ranked first among local Azerbaijani banks in terms of volume of total liabilities in the fourth quarter of 2023, Trend reports.
According to the bank's financial report, the bank's total liabilities for the reporting period amounted to 9.8 billion manat ($5.7 billion).
PASHA Bank ranked second with total liabilities worth 7.97 billion manat ($4.69 billion).
Kapital Bank ranked third with total liabilities worth 6.8 billion manat ($4 billion).
The total liabilities of the first three banks accounted for 24.6 billion manat ($14.4 billion) or 73.97 percent of the overall volume of the total liabilities of the 10 Azerbaijani banks (33.3 billion manat or $19.59 billion).
Ranking of TOP-10 Azerbaijani banks by total liabilities:
|
Banks |
Total liabilities |
|
|
1 |
International Bank of Azerbaijan |
9.8 billion manat ($5.7 billion) |
|
2 |
PASHA Bank |
7.97 billion manat ($4.69 billion) |
|
3 |
Kapital Bank |
6.8 billion manat ($4 billion) |
|
4 |
Xalq Bank |
2.2 billion manat ($1.2 billion) |
|
5 |
Bank Respublika |
1.5 billion manat ($880 million) |
|
6 |
Unibank |
1.32 billion manat ($776.47 billion) |
|
7 |
Access Bank |
1.1 billion manat ($650 million) |
|
8 |
Azer-Turk Bank |
840.5 million manat ($494.4 million) |
|
9 |
Rabitabank |
817.2 million manat ($480.7 million) |
|
10 |
Yelo Bank |
749.59 million manat ($440.9 million) |
According to the Central Bank of Azerbaijan, the net profit of the banking sector as of March 31, 2023 in Azerbaijan increased by 94 million manat ($55.2 million), or 54.05 percent compared to the same period in 2022 growing from 173.9 million manat ($102.2 million) to 267.9 million manat ($157.5 million).
As of April 1, 2023, the total liabilities of Azerbaijani banks amounted to 38.98 billion manat ($22.9 billion)