Yapı Kredi Bank Azerbaijan CJSC completed the second quarter of 2023 with a net profit of AZN 3.6 million.

Thus, Yapı Kredi Bank Azerbaijan completed the second quarter of this year with a profit of AZN 3.6 mln, having increased it by 164.7% compared to the second quarter of last year. The Bank’s interest income increased by 41.3% compared to the corresponding period last year and reached AZN 17.1 mln while non-interest income increased by 11.3% and amounted to AZN 9.3 mln. In general, net interest income increased by 42.6% compared to the same period last year and amounted to AZN 15.9 mln.

According to the results of the second quarter of this year, the portfolio of loans issued by Yapı Kredi Bank Azerbaijan CJSC to customers increased by 6% compared to the end of last year and amounted to AZN 251 mln. Thus, the volume of consumer loans increased by 15.1% and reached AZN 52 mln while the volume of real estate loans increased by 25.3% and amounted to AZN 28 mln. In the second quarter of this year, the volume of business loans amounted to AZN 171 mln.

In the second quarter of this year, Yapı Kredi Bank Azerbaijan met the prudential standards set by the Central Bank of Azerbaijan at the required level. Thus, at the end of the corresponding period, the Bank's Tier I and total capital adequacy ratios were 23.37 and 25.73%, respectively. The Bank's total capital after deductions amounted to AZN 79.5 mln. Note that according to the law in force, the minimum rate of total capital is AZN 50 million.

Yapı Kredi Bank Azerbaijan CJSC, the main shareholder of which is the Turkish Yapı Kredi A.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.