Financial Results of Yapı Kredi Bank Azerbaijan CJSC for Q1 2021 Announced

As of the end of the first quarter of 2021, Yapı Kredi Bank Azerbaijan recorded an increase in its total balance capital compared to the same period last year. Specifically, the Bank’s total balance capital rose to AZN 81,965,000, and, in order to strengthen its risk management policy for issued loans, provisions for possible losses created as of the reporting date amounted to 41,369,000 AZN.

In the first three months of the current year, the Bank’s net interest income reached AZN 5.9 million. Furthermore, the Tier 1 capital adequacy ratio increased by 14.19% compared to the same period of the previous year, reaching 43.12%, while the total capital adequacy ratio increased by 13.02% to 43.91%. Bank’s leverage ratio also rose in the first quarter, reaching 21.10%. As a result, the Bank’s capital adequacy ratios were significantly above the regulatory standards set by the supervisory authority. For reference, the Central Bank mandates a minimum total capital adequacy ratio of 9%.

Based on the results of the first quarter of 2021, the Bank’s total capital currently amounts to AZN 73.5 million, whereas the minimum total capital requirement under the applicable laws is AZN 50 million.

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