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Azerbaijan’s top 10 banks in terms of total capital in 1Q2023

Finance Materials 28 April 2023 16:24 (UTC +04:00)
Azerbaijan’s top 10 banks in terms of total capital in 1Q2023
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 28. The International Bank of Azerbaijan took first place in terms of total capital among Azerbaijani banks in the first quarter of 2023, Trend reports.

According to the bank's financial report, the bank's total capital for the reporting period amounted to 1.5 billion manat ($8.8 million).

Kapital Bank ranked second with total capital worth 925.3 million manat ($544.2 million).

Pasha Bank ranked third with total capital worth 776.3 million manat ($456.6 million).

The total capital of the first three banks accounted for 3.2 billion manat ($1.8 billion) or 71.82 percent of the overall volume of the total capital of the 10 Azerbaijani banks (4.5 billion manat or $2.6 billion).

Banks

Total Capital

1

International Bank of Azerbaijan

1.5 billion manat ($8.8 million)

2

Kapital Bank

925.3 million manat ($544.2 million)

3

Pasha Bank

776.3 million manat ($456.6 million)

4

Xalq Bank

473.8 million manat ($278.7 million)

5

Premium Bank

170.7 million manat ($100.4 million)

6

Bank Respublika

141 million manat ($82.9 million)

7

UniBank

134.4 million manat ($79 million)

8

Bank of Baku

134.3 million manat ($78.9 million)

9

Expressbank

117.6 million manat ($69.1 million)

10

Nakhichivan Bank

113.4 million manat ($66.7 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).

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