BAKU, Azerbaijan, April 29. The share of net profit of three banks (Kapital Bank, International Bank of Azerbaijan and PASHA Bank) is more than half of the total profit of the entire banking sector, according to the ranking compiled by Trend.
Kapital Bank, which took the first place in terms of net profit among Azerbaijani banks, accounts for 31.18 percent, 30.01 percent fall on International Bank of Azerbaijan (IBA), while the share of the closing top-3 PASHA Bank amounts to 15.76 percent.
Speaking about the total net profit of the first three banks, the profit of the first three banks is 206.1 million manat ($121.2 million), or 80.36 percent of the total net profit of the top 10 banks of Azerbaijan which is 256.5 million manat ($150.8 million), or 76.96 percent of the total net profit of all banks of Azerbaijan which amounts to 267.8 million manat ($157.5 million).
The total net profit of the first 10 banks is 95.76 percent of the total profit of all banks in Azerbaijan.
Ranking of Azerbaijani banks by net profit for 1Q2023:
| Banks | Net profit of banks | |
| 1 | Kapital Bank | 83.15 million manat ($49.1 million) |
| 2 | International Bank of Azerbaijan | 80.4 million manat ($47.29 million) |
| 3 | PASHA Bank | 42.2 million manat ($24.8 million) |
| 4 | Xalq Bank | 11.2 million manat ($6.59 million) |
| 5 | Bank Respublika | 9.7 million manat ($5.7 million) |
| 6 | Bank of Baku | 9.5 million manat ($5.59 million) |
| 7 | AccessBank | 5.46 million manat ($3.2 million) |
| 8 | Rabitabank | 5.07 million manat ($2.98 million) |
| 9 | Nakchivanbank | 5.05 million manat ($2.9 million |
| 10 | Unibank | 4.29 million manat ($2.5 million) |
| 11 | Yelo Bank | 4.12 million manat ($2.4 million) |
| 12 | Premium Bank | 3.5 million manat ($2 million) |
| 13 | Expressbank | 3.4 million manat ($1.99 million) |
| 14 | Ziraat Bank | 3.3 million manat ($1.94 million) |
| 15 | Azer-Turk Bank | 3 million manat ($1.76 million) |
| 16 | VTB Bank | 2.9 million manat ($1.7 million) |
| 17 | AFB Bank | 2.6 million manat ($1.5 million) |
| 18 | Yapi Kredi Bank Azerbaijan | 2.16 million manat ($1.27 million) |
| 19 | Bank Avrasiya | 1.55 million manat ($911,764) |
| 20 | Azerbaijan Industry Bank | 1 million manat ($588,235) |
| 21 | BTB Bank | 888,000 manat ($522,352) |
| 22 | Bank Melli Iran | 621,280 manat ($365,458) |
| 23 | Gunay Bank | 277,190 manat ($163,052) |
| 24 | Mugan Bank | 102,850 manat ($60,500) |
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).