Yapı Kredi Bank Azerbaijan CJSC Concludes First Quarter of 2023 with AZN 2.2 Million Net Profit.

Yapı Kredi Bank Azerbaijan concluded the first quarter of 2023 with a net profit of AZN 2.2 million. Compared to the same period last year, interest income for January–March increased by 43.7% to AZN 8.3 million, while non-interest income grew by 9.8% to AZN 4.3 million. Overall, net interest income increased by 43% compared to the same period last year, reaching AZN 7.7 million.

During Q1 2023, the bank’s loan portfolio expanded by 34.5% compared to year-end 2022, amounting to AZN 235 million. Consumer loans rose by 5.2% to AZN 48 million, while business loans reached AZN 162 million. Real estate loans increased by 13.9% to AZN 26 million.

The bank’s deposit portfolio grew by 28.3% over the same period, reaching AZN 366 million, and total assets increased by 23% to AZN 486 million.

In the first three months of 2023, "Yapı Kredi Bank Azerbaijan" CJSC fully complied with prudential norms set by the Central Bank of Azerbaijan. As of the end of the period, the bank’s Tier 1 capital adequacy ratio stood at 25.83%, while the total capital adequacy ratio was 27.64%. The bank's total capital after deductions amounted to AZN 77.7 million. It should be noted that, according to applicable laws, the minimum total capital requirement is AZN 50 million.

With its main shareholder being Yapı Kredi A.Ş. of Türkiye, "Yapı Kredi Bank Azerbaijan" CJSC serves customers through branches in Baku and Sumgayit, its 24/7 Call Center (*0444), and Internet/Mobile Banking services, offering a wide range of financial products.