Yapı Kredi Bank Azerbaijan CJSC completed the first quarter of 2023 with a net profit of AZN 2.2 million.

Yapı Kredi Bank Azerbaijan completed the first quarter of 2023 with a profit of AZN 2.2 million. Compared to the corresponding period last year, the Bank's interest income for January-March this year increased by 43.7% and reached AZN 8.3 mln while non-interest income increased by 9.8% and amounted to AZN 4.3 mln. In general, net interest income increased by 43% compared to the same period last year and amounted to AZN 7.7 mln.

In the first quarter of this year, the volume of the portfolio of loans issued by Yapı Kredi Bank Azerbaijan CJSC to customers increased by 34.5% compared to the end of last year and amounted to AZN 235 mln. Thus, the volume of consumer loans increased by 5.2% to AZN 48 mln, and the volume of business loans reached AZN 162 mln. The volume of loans for the purchase of real estate increased by 13.9% and reached AZN 26 mln.

Herewith, the Bank's deposit portfolio increased by 28.3% compared to the last quarter of last year and amounted to AZN 366 million while the bank's assets increased by 23% to AZN 486 mln.

For the first 3 months of this year, Yapı Kredi Bank Azerbaijan CJSC met the prudential standards set by the Central Bank of Azerbaijan at the required level. Thus, as of the end of the corresponding period, the Bank's Tier I and total capital adequacy ratios were 25.83 and 27.64 %, respectively. The Bank's total capital after deductions amounted to AZN 77.7 mln. Note that according to the law in force, the minimum rate of total capital is AZN 50 mln.

Yapı Kredi Bank Azerbaijan CJSC, the main shareholder of which is the Turkish Yapı KrediA.Ş., with branches located in Baku and Sumgayit, 24/7 Call Center (*0444), and Internet/Mobile Banking products provides customers with a wide range of services.