BAKU, Azerbaijan, April 23. In the first quarter of 2024, the International Bank of Azerbaijan ranked No. 1 among Azerbaijani banks in terms of net profits, Trend reports.
According to the bank's financial report, its net profit was
80.6 million manat ($47.3 million).
Kapital Bank finished second in the standings, with a total net
profit of 71.3 million manat ($41.9).
PASHA Bank ranks third with a net profit of 51.1 million manat ($30
million), followed by Xalq Bank in fourth with a net profit of 16.5
million manat ($9.7 million), and AccessBank rounding out the top
five with 16.5 million manat.
The total net profit of the first three banks is 203.1 million
manat ($119.4 million), or 71.43 percent of the total net profit of
Azerbaijan's top ten banks (284.3 million manat ($167.1 million),
or 65.21 percent of the total net profit of all Azerbaijani banks
(311.4 million manat ($183 million).
Ranking of Azerbaijani banks by net profit for the first quarter of 2024:
| Banks | Net income (loss) | |
| 1 | International Bank | 80.6 million manat ($47.3. million) |
| 2 | Kapital Bank | 71.3 million manat ($41.9 million) |
| 3 | PASHA Bank |
51.1 million manat ($30 million) |
| 4 | Xalq Bank | 16.5 million manat ($9.7 million) |
| 5 | AccessBank | 16.5 million manat ($9.7 million) |
| 6 | Yelo Bank | 14.1 million manat ($8.2 million) |
| 7 | Bank Respublika | 13.5 million manat ($7.9 million) |
| 8 | Azer–Turk Bank | 7.9 million manat ($4.6 million) |
| 9 | Uni Bank | 7.3 million manat ($4.2 million) |
| 10 | Nakhichivan Bank | 5.2 million manat ($3 million) |
| 11 | Ziraat Bank | 4.3 million manat ($2.5 million) |
| 12 | Rabita Bank | 4.3 million manat ($2.5 million) |
| 13 | Bank of Baku | 3.5 million manat ($2 million) |
| 14 | Expressbank | 3.3 million manat ($1.9 million) |
| 15 | Premium Bank | 2.5 million manat ($1.4 million) |
| 16 | Bank Melli Iran | 2.4 million manat ($1.4 million) |
| 17 | Yapi kredi Bank | 2.4 million manat ($1.4 million) |
| 18 | VTB Bank | 2.2 million manat ($1.2 million) |
| 19 | Avrasiya Bank | 1.2 million manat ($705,000) |
| 20 | Azersenaye Bank | 835,400 manat ($491,000) |
| 21 | BTB Bank | 129,000 manat ($75,800) |
| 22 | Turan Bank | 112,000 manat ($65,800) |
| 23 | AFB Bank | - 457,890 manat (- $269,200) |
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