BAKU, Azerbaijan, April 28. The International Bank of Azerbaijan (IBA) took first place among the TOP-10 local banks in terms of loan portfolio volume for the first quarter of 2023, Trend reports.
According to the IBA’s financial report, its loan portfolio for the reporting period amounted to 8.7 billion manat ($5.1 billion).
Pasha Bank ranked second with a loan portfolio in the amount of 7.1 billion manat ($4.1 billion).
The third position among the TOP-10 banks was occupied by Kapital Bank with a loan portfolio of 5.9 billion manat ($3.4 billion).
The total loan portfolio of the first three banks in 1Q2023 amounted to 21.7 billion manat ($12.7 billion), which is 71.17 percent of the total loan portfolio of all banks in Azerbaijan (28.19 billion manat or $16.5 billion).
Azerbaijan’s TOP-10 banks in terms of loan portfolio volume for 1Q2023:
| Banks | Loan portfolio | |
| 1 | International Bank of Azerbaijan | 8.7 billion manat ($5.1 billion) |
| 2 | PASHA Bank | 7.1 billion manat ($4.1 billion) |
| 3 | Kapital Bank | 5.9 billion manat ($3.4 billion) |
| 4 | Xalq Bank | 1.9 billion manat ($1.1 billion) |
| 5 | Unibank | 1 billion manat ($588.2 million) |
| 6 | Bank Respublika | 978.5 million manat ($575.5 million) |
| 7 | AccessBank | 948.7 million manat ($558 million) |
| 8 | Yelo Bank | 576.8 million manat ($339.2 million) |
| 9 | Rabitabank | 549.4 million manat ($323.1 million) |
| 10 | Mugan Bank | 479.6 million manat ($282.1 million) |
According to the Central Bank of Azerbaijan, the net profit of the banking sector as of March 31, 2023 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).