BAKU, Azerbaijan, April 28. Azerbaijan's Kapital Bank ranked first among the local banks in terms of expenditures in the first quarter of 2023, Trend reports.
According to the bank's financial report, the total expenditures of Kapital Bank equaled 154.8 million manat ($91.06 million) in the reporting period.
International Bank of Azerbaijan took second position with total expenditures of 103.76 million manat ($61.04 million).
PASHA Bank ranked third with total expenditures worth 65.08 million manat ($38.2 million).
The total expenditures of the top three banks amounted to 323.66 million manat ($190.39 million), or 57.92 percent of the overall expenditures of top 10 banks of Azerbaijan (558.78 million manat or $328.69 million).
TOP-10 Azerbaijani banks by expenditures:
|
Banks |
Expenditures |
|
|
1 |
Kapital Bank |
154.8 million manat ($91.06 million) |
|
2 |
International Bank of Azerbaijan |
103.76 million manat ($61.04 million) |
|
3 |
PASHA Bank |
65.08 million manat ($38.2 million) |
|
4 |
Unibank |
59.08 million manat ($34.75 million) |
|
5 |
Bank Respublika |
41.03 million manat ($24.1 million) |
|
6 |
Access Bank |
36.3 million manat ($21.3 million) |
|
7 |
Yelo Bank |
26.4 million manat ($15.5 million) |
|
8 |
Rabitabank |
25.9 million manat ($15.2 million) |
|
9 |
Bank of Baku |
23.87 million manat ($14.04 million) |
|
10 |
Xalq Bank |
22.35 million manat ($13.15 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).