Yapı Kredi Bank Azerbaijan CJSC Significantly Increased Its Profit in the Second Quarter of 2019.

Net profit of "Yapı Kredi Bank Azerbaijan" CJSC, a member of a banking group operating in 17 European countries, increased 2.5 times in the first quarter of 2019 compared to the same period of the previous year, reaching AZN 1,686,000.

 In the report released for the first quarter of 2019, the bank’s net interest income increased by 10% compared to the same quarter of 2018, reaching AZN 7,616,000, while its operating income rose by 21% to AZN 4,198,000. In addition, the 22% decrease in provisions allocated for covering potential losses on assets indicates a positive quality trend in the bank’s loan portfolio. 

Yapı Kredi has continued to implement its global banking experience in Azerbaijan, earning the trust of its customers. Specifically, when examining demand deposits placed by individual customers who trust the bank with their funds, this figure increased by 28% in the first quarter of 2019 compared to the same period in 2018. 

Yapı Kredi Bank Azerbaijan has also maintained its efforts in financing the real sector in the country, in line with the priorities set out in the Strategic Road Maps. As a result, compared to the corresponding period of 2018, the bank’s loan portfolio grew by 13% in the first quarter of 2019, reaching AZN 163 million.

The bank’s capital indicators are quite reassuring. Compared to the same period of the previous year, by the end of the first quarter of 2019, the bank’s Tier I capital had increased by 9% to AZN 66.3 million, while total capital had risen by 11% to AZN 71.3 million. A positive trend was also recorded in the capital adequacy ratio; since the end of the previous year, the bank increased this ratio from 20.7% to 23.1%, a figure that is several times higher than the minimum requirement set by local laws.

It should be noted that Yapı Kredi Bank Azerbaijan is a member of a banking group operating in 17 countries worldwide. With its main shareholders, UniCredit (Italy) and Koç Holding (Türkiye), the Bank leverages its international experience in the banking sector in Azerbaijan to provide a wide range of services to customers through its branches in Baku and Sumgayit, a 24/7 Call Center, and Internet/Mobile Banking products.