Azerbaijani banks showed positive asset growth in 2023

By bne IntelliNews January 16, 2024

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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