BAKU, Azerbaijan, April 29. The share of income of three banks (Kapital Bank, International Bank of Azerbaijan and PASHA Bank) is about half of the total income of the entire banking sector, according to the ranking compiled by Trend.
Kapital Bank, which ranked first in terms of revenues among Azerbaijani banks, accounts for 24.2 percent, the International Bank of Azerbaijan (IBA) accounts for 20.89 percent, and PASHA Bank closing top-3 is 11.83 percent.
Speaking about the total revenue of the first three banks, the revenue of the top 3 is 627.8 million manat ($369.2 million), or 67.15 percent of the total revenue of 10 banks in Azerbaijan which is 934.9 million manat ($549.9 million), or 56.92 percent of the total volume of all banks in Azerbaijan which is 1.1 billion manat ($647 million).
The total revenue of the first 10 banks is 84.76 percent of the total revenue of all banks in Azerbaijan.
Ranking of Azerbaijani banks by revenue for 1Q2023:
| № | Banks | Revenue |
| 1 | Kapital Bank | 266.9 million manat($157 million) |
| 2 | International Bank of Azerbaijan | 230.4 million manat ($135.5 million) |
| 3 | PASHA Bank | 130.4 million manat ($76.7 million) |
| 4 | Unibank | 74.7 million manat ($43.9 million) |
| 5 | Bank Respublika | 52.2 million manat ($30.7 million) |
| 6 | AccessBank | 46.9 million manat (27.5 million) |
| 7 | Xalq Bank | 42.4 million manat ($24.9 million) |
| 8 | Bank of Baku | 31.8 million manat ($18.7 million) |
| 9 | Rabitabank | 30.9 million manat ($18.1 million) |
| 10 | Yelo Bank | 27.8 million manat ($16.3 million) |
| 11 | Azer-Turk Bank | 20.8 million manat ($12.2 million) |
| 12 | Mugan Bank | 18.2 million manat ($10.7 million) |
| 13 | Expressbank | 17.9 million manat ($10.5 million) |
| 14 | Ziraat Bank | 13.5 million manat ($7.9 million) |
| 15 | Yapi Kredi Bank Azerbaijan | 12.6 million manat ($7.4 million) |
| 16 | Premuim Bank | 12.4 million manat ($7.2 million) |
| 17 | Azerbaijan Industry Bank | 9.8 million manat ($5.7 million) |
| 18 | BTB Bank | 8.3 million manat ($4.88 million) |
| 19 | VTB Bank | 8.2 million manat ($4.82 million) |
| 20 | Nakhichivanbank | 7.2 million manat ($4.2 million) |
| 21 | AFB Bank | 6.6 million manat ($3.8 million) |
| 22 | Gunay Bank | 5.5 million manat ($3.2 million) |
| 23 | Bank Avrasiya | 4.4 million manat ($2.5 million) |
| 24 | Bank Melli Iran | 1.1 million manat ($647,058) |
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 - from 173.9 million ($102.2 million) to 267.9 million manat ($157.5 million).