BAKU, Azerbaijan, July 24. The International Bank of Azerbaijan (IBA) ranked No. 1 among the local banks by net profits in the first half of 2024, Trend reports.
According to the IBA's financial report, its net profit was
172.3 million manat ($101.3 million).
Kapital Bank finished second in the standings, with a total net
profit of 123.9 million manat ($72.88).
PASHA Bank ranked third with a net profit of 119.06 million manat
($70 million), followed by Xalq Bank in fourth with a net profit of
34 million manat ($20 million), and AccessBank rounding out the top
five with 27.1 million manat ($15.9 million).
The total net profit of the top three banks reached 415.37 million
manat ($244 million), or 73.53 percent of the total net profit of
Azerbaijan's top 10 banks (564.9 million manat or $332.3 million),
or 67.7 percent of the total net profit of all Azerbaijani banks
(613.5 million manat or $360.88 million).
Ranking of Azerbaijani banks by net profit for the first half of 2024:
|
Banks |
Net income (loss) |
|
|
1 |
International Bank of Azerbaijan |
172.3 million manat ($101.3 million) |
|
2 |
Kapital Bank |
123.9 million manat ($72.88) |
|
3 |
PASHA Bank |
119.06 million manat ($70 million) |
|
4 |
Xalq Bank |
34 million manat ($20 million) |
|
5 |
AccessBank |
27.19 million manat ($16 million) |
|
6 |
Yelo Bank |
26.26 million manat ($15.45 million) |
|
7 |
Bank Respublika |
26 million manat ($15.3 million) |
|
8 |
Azer-Turk Bank |
13.5 million manat ($7.9 million) |
|
9 |
UniBank |
11.49 million manat ($6.76 million) |
|
10 |
Bank of Baku |
11 million manat ($6.4 million) |
|
11 |
Rabita Bank |
10.59 million manat ($6.2 million) |
|
12 |
Ziraat Bank |
8 million manat ($4.7 million) |
|
13 |
Expressbank |
6 million manat ($3 million) |
|
14 |
Premium Bank |
5.67 million manat ($3.3 million) |
|
15 |
VTB Bank |
4.72 million manat ($2.78 million) |
|
16 |
Yapi Kredi Bank |
4.38 million manat ($2.58 million) |
|
17 |
Bank Melli Iran |
3.4 million manat ($2 million) |
|
18 |
Azersenaye Bank |
2.9 million manat ($1.7 million) |
|
19 |
Avrasiya Bank |
1.05 million manat ($620,000) |
|
20 |
Turan Bank |
852,000 manat ($51,180) |
|
21 |
AFB Bank |
634,240 manat ($373,080) |
|
22 |
BTB Bank |
226,000 manat ($132,940) |