Four Azerbaijani banks showcase increase in assets for January-September 2023

By bne IntelliNews October 16, 2023

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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