BAKU, Azerbaijan, January 27. The International Bank of Azerbaijan (IBA) ranked No. 1 among the local banks by net profits in the fourth quarter of 2024, Trend reports.
The IBA's financial report reveals a net profit of 293.7 million manat, which translates to $172.7 million.
PASHA Bank finished second in the standings, with a total net
profit of 210.5 million manat ($123.8 million).
Kapital Bank ranked third with a net profit of 186.5 million manat
($109.7 million), followed by Xalq Bank in fourth with a net profit
of 65.7 million manat ($38.6 million), and AccessBank rounding out
the top five with over 54 million manat ($31.7 million).
The total net profit of the top three banks reached 690.7 million manat ($406.2 million), or 71.06 percent of the total net profit of Azerbaijan's top 10 banks (972 million manat or $571.7 million), or 64.64 percent of the total net profit of all Azerbaijani banks (over 1 billion manat or $588.2 million).
Ranking of Azerbaijani banks by net profit for the first half of 2024:
| Banks | Net income (loss) | |
| 1 | International Bank of Azerbaijan (ABB) | 293.7 million manat ($172.7 million) |
| 2 | PASHA Bank | 210.5 million manat ($123.8 million) |
| 3 | Kapital Bank | 186.5 million manat ($109.7 million) |
| 4 | Xalq Bank | 65.7 million manat ($38.6 million) |
| 5 | AccessBank | 54 million manat ($31.7 million) |
| 6 | Bank Respublika | 50.5 million manat ($29.7 million) |
| 7 | Yelo Bank | 43.2 million manat ($25.4 million) |
| 8 | Bank of Baku | 25.9 million manat ($15.2 million) |
| 9 | Azer–Turk Bank | 21.3 million manat ($12.5 million) |
| 10 | UniBank | 20.3 million manat ($11.9 million) |
| 11 | Rabita Bank | 14.8 million manat ($8.7 million) |
| 12 | ZiraatBank | 14.5 million manat ($8.5 million) |
| 13 | YapikrediBank | 12.3 million manat ($7.2 million) |
| 14 | Expressbank | 11.2 million manat ($6.5 million) |
| 15 | Premium Bank | 9.68 million manat ($5.69 million) |
| 16 | VTB Bank | 9.53 million manat ($5.6 million) |
| 17 | Bank Melli Iran | 7.71 million manat ($4.53 million) |
| 18 | AzersenayeBank | 6.44 million manat ($3.78 million) |
| 19 | AFB Bank | 4.57 million manat ($2.68 million) |
| 20 | Avrasiya Bank | 3.92 million manat ($2.3 million) |
| 213 | Turan Bank | 2.49 million manat ($1.46 million) |
| 22 | BTB Bank | - 839,000 manat ($493,533) |
