Azerbaijan's banking sector staged a remarkable comeback in 2023, with robust asset growth, surging loan portfolios and profit gains. From established giants like PASHA Bank (which is related to the ruling family of the country) to rising establishments like Unibank and Rabitabank, the landscape showcased dynamic performances across the board.
Seven banks – PASHA Bank, Expressbank, Premium Bank, AccessBank, Bank of Baku, Xalq Bank and Unibank – experienced asset growth, ranging from 1.5% for PASHA Bank to 24.2% for Bank of Baku. Loan portfolios swelled across the board, with AccessBank witnessing a staggering 24.6% increase, fuelled by strong growth in both consumer and business loans. Yelo Bank also saw impressive loan portfolio expansion, surging 23%, driven by a 22% rise in business loans and a 28% jump in consumer loans. Deposits climbed steadily across most banks, with the Bank of Baku leading the pack with a 41.1% surge, driven by a 44.1% increase in deposits from the population. Unibank also saw a robust 22.8% rise in deposits, highlighting growing public confidence in the banking system. Profitability soared across the sector, with AccessBank emerging as the undisputed champion, witnessing a near-quadrupling (260%) in net profit. Unibank and PASHA Bank also enjoyed significant profit gains, increasing by 59 times and 33.3% respectively.
| Bank Name | Total Assets (AZN, mn) | Loan Portfolio (AZN, mn) | Consumer Loans (AZN, mn) | Business Loans (AZN, mn) | Real Estate Loans (AZN, mn) | Liabilities (AZN, mn) | Deposits (AZN, mn) | Household Deposits (AZN, mn) | Capital (AZN, mn) | Net Profit (AZN, mn) |
|---|---|---|---|---|---|---|---|---|---|---|
| PASHA Bank | 8651.37 | 2835.44 | N/A | N/A | N/A | 7814.18 | 6935.18 | 1633.93 | 837.192 | 199.203 |
| Expressbank | 560.228 | 409.253 | 189.362 | 113.393 | 106.498 | 430.32 | 230.411 | 152.135 | 129.908 | 12.015 |
| Premium Bank | 685.116 | 471.866 | N/A | 385.638 | N/A | 507.823 | 426.77 | 330.857 | 177.293 | 7.453 |
| AccessBank | 1392 | 1014 | 227.537 | 780.045 | N/A | 1255 | 1052 | 842.466 | 137.115 | 39.838 |
| Bank of Baku | 870.89 | 659.043 | 476.055 | 148.087 | 34.896 | 731.918 | 515.768 | 475.679 | 138.971 | 25.459 |
| Xalq Bank | 3082.548 | 1826.965 | N/A | N/A | N/A | 2578.273 | 2220.972 | N/A | 504.274 | 52.07 |
| Unibank | 1590.659 | 1047.741 | 627.606 | 329.397 | 90.738 | 1441.83 | 1215.892 | 941.28 | 148.83 | 32.931 |
| Yelo Bank | N/A | 764 | 281 | 483 | N/A | N/A | 500 | N/A | Over 109 | Over 20 |
| TuranBank | 822.8 | 629.4 | N/A | 367.6 | N/A | N/A | 458.9 | 394.6 | N/A | N/A |
| Ziraat Bank Azerbaijan | 636.685 | 390.942 | N/A | N/A | N/A | 519.709 | 411.422 | 171.669 | 116.976 | 8.513 |
| Rabitabank | 1138.45 | 721.159 | 239.634 | 345.405 | 136.12 | 1022.098 | 753.824 | 445.386 | 116.352 | 13.061 |
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