Yapı Kredi Bank Azerbaijan CJSC Concludes the Second Quarter of 2020 with Profit

Despite the current situation caused by the pandemic, "Yapı Kredi Bank Azerbaijan" CJSC ended the second quarter of 2020 with a net profit of AZN 471.59 thousand. According to the bank’s financial report for Q2 2020, net interest income amounted to AZN 13.5 million. While operating profit reached AZN 6.5 million during the same period.

Yapı Kredi continued to apply its global banking expertise in Azerbaijan, thereby earning the trust of its customers. As a result, the bank’s loan portfolio stood at AZN 159.4 million, with real estate loans showing a 12% increase compared to the end of the previous year. 

The bank’s capital indicators are quite reassuring. Compared to the same period last year, by the end of Q2 2020 the bank’s Tier 1 capital had increased by 7% to AZN 71 million, and its total capital grew by 2% to AZN 73.3 million. The Tier 1 capital adequacy ratio rose to 39.5%, and the total capital adequacy ratio to 40.7%. Additionally, the bank’s leverage ratio increased by 42% compared to the same period in 2019, reaching 19%. Notably, these figures are several times higher than the minimum requirements set by local regulations.

To prevent the spread of COVID-19, the bank prioritized the health of both its employees and customers, while offering a wide range of digital alternatives for carrying out banking transactions. During this period, Yapı Kredi Bank Azerbaijan upgraded its internet and mobile banking systems, continuing to provide improved services aimed at achieving high customer satisfaction.

Yapı Kredi Bank Azerbaijan is a member of a banking group operating in many European countries. With its main shareholders, Koç Holding (Türkiye) and UniCredit (Italy), the Bank leverages its international experience in the banking sector to provide a wide range of services to customers through its branches in Baku and Sumgayit in Azerbaijan, a 24/7 Call Center (0444), and Internet/Mobile Banking products.