BAKU, Azerbaijan, October 17. The International Bank of Azerbaijan (IBA) has taken first place among Azerbaijani banks by net profit volume in the third quarter of 2024, Trend reports.
According to the IBA's financial report, its net profit was 235
million manat ($138.2 million).
Kapital Bank finished second in the standings, with a total net
profit of 166 million manat ($97.6 million).
PASHA Bank ranked third with a net profit of 146.7 million manat
($86.2 million), followed by Xalq Bank in fourth with a net profit
of 54 million manat ($31.7 million), and AccessBank rounding out
the top five with 41.4 million manat ($24.3 million).
The total net profit of the top three banks reached 547.9 million
manat ($322.2 million), or 70.67 percent of the total net profit of
Azerbaijan's top 10 banks (775.3 million manat or $455.9 million),
or 64.1 percent of the total net profit of all Azerbaijani banks
(893.9 million manat or $525.6 million).
Ranking of Azerbaijani banks by net profit for the third quarter of 2024:
| Banks | Net income (loss) | |
| 1 | International Bank of Azerbaijan | 235 million manat ($136.7 million) |
| 2 | Kapital Bank | 166 million manat ($96.4 million) |
| 3 | PASHA Bank | 146.7 million manat ($85.1 million) |
| 4 | Xalq Bank | 54 million manat ($31.3 million) |
| 5 | AccessBank | 41.4 million manat ($24 million) |
| 6 | Bank Respublika | 39.2 million manat ($22.8 million) |
| 7 | Yelo Bank | 35 million manat ($20.3 million) |
| 8 | Bank of Baku | 20 million manat ($11.6 million) |
| 9 | Rabita Bank | 19.1 million manat ($11.1 million) |
| 10 | Azer-Turk Bank | 18.3 million manat ($10.6 million) |
| 11 | UniBank | 17.6 million manat ($10.2 million) |
| 12 | ZiraatBank | 11.2 million manat ($6.55 million) |
| 13 | Premium Bank | 9.50 million manat ($5.51 million) |
| 14 | Expressbank | 9.17 million manat ($5.32 million) |
| 15 | Yapi Kredi Bank | 8.30 million manat ($4.81 million) |
| 16 | VTB Bank | 6.14 million manat ($3,56 million) |
| 17 | Bank Melli Iran | 5.02 million manat ($2.91 million) |
| 18 | Azersenaye Bank | 4.7 million manat ($2,72 million) |
| 19 | Avrasiya Bank | 3.48 million manat ($2.02 million) |
| 20 | AFB Bank | 2.12 million manat ($1.23 million) |
| 21 | Turan Bank | 1.66 million manat ($964,000) |
| 22 | BTB Bank | - 493,000 manat (-$289,934) |