The Azerbaijani banking sector performed well in the first nine months of 2023, with most banks reporting growth in assets, loans and deposits. However, net profits were mixed, with some banks reporting declines. Earlier, four foreign banks based in Azerbaijan showed mixed results.
So far, out of reported banks in the country, the largest bank in Azerbaijan by assets is Unibank, followed by Bank of Baku and Rabitabank. All three of these banks reported growth in assets, loans and deposits in the first nine months of 2023. Unibank also reported the highest net profit of all the banks, followed by Bank of Baku and Rabitaban. Azerbaijan Industrial Bank and Bank BTB were the only two banks to report declines in net profit in the first 9 months of 2023. However, both banks still reported growth in assets, loans, and deposits:
| Bank | Assets (mn AZN) | Asset increase y/y | Loan portfolio (mn AZN) | Liabilities (mn AZN) | Deposits (mn AZN) | Capital (mn AZN) | Net profit (mn AZN) |
|---|---|---|---|---|---|---|---|
| Azerbaijan Industrial Bank | 707.507 | -5.4% | 243.707 | 594.229 | 438.776 | 113.278 | 3.481 |
| Azerbaijani Premium Bank | 677.356 | -2.2% | 433.026 | 496.713 | 451.299 | 180.643 | 7.881 |
| Azerbaijani Bank of Baku | 816.529 | 16.4% | 643.085 | 678.711 | 451.781 | 137.818 | 24.317 |
| Azerbaijani Rabitabank | 1003.768 | 5.1% | 701.471 | 884.284 | 635.157 | 119.484 | 13.454 |
| Azerbaijani Unibank | 1527.811 | 6% | 1046.829 | 1390.882 | 1124.205 | 136.929 | 21.907 |
| Azerbaijani Bank BTB | 376.759 | 0.7% | 276.855 | 327.537 | 147.322 | 49.222 | -0.987 |
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