Bank of the Republic, one of the largest banks in the country, published financial results for the first half of 2022. According to the reports, the bank secured the growth rate and continued dynamic development, thereby strengthened its leading positions in the banking services market of Azerbaijan.
As of July 1, 2022, the bank’s assets reached 1.378 billion manat, which is 13% more than on a similar date last year. From the published reporting, it is also seen that the bank has a fairly high stock of capital for sustainable development. So, the total capital of the bank increased by 14% and amounted to 106.7 million manat, exceeding the regulatory norm by more than 2 times.
Compared to the first half of 2021, the bank’s net interest profit increased by more than 58%, reaching 38.78 million manat, net operating profit increased more than 3 times reached 14.5 million manat, and the bank’s net profit increased by 66% and amounted to 12.5 million manat.
According to the report, 70% of the bank loan portfolio is business loans aimed at financing customers from the real sector, which is a priority for the bank. Compared to the corresponding period last year, a loan portfolio aimed at lending to entrepreneurship increased by 48%. It is noteworthy that, compared with the same period last year, the share of expired loans (NPL) in the total loan portfolio also decreased and amounted to 0.77%.
The bank’s deposit portfolio amounted to 822.3 million manat, which is one of the highest indicators in terms of the volume of deposit portfolio among banks in the country. This once again confirms the trust of a large number of customers to the Bank of the Republic.
the Bank of the Republic was created in 1992 and is part of the five leading banks of Azerbaijan. Among the bank shareholders are the largest financial institution of Germany – Sparkassen International Development Trust (member of the financial group Sparkassen -Finanzgruppe). The bank has one of the highest international ratings in the banking sector of Azerbaijan – a rating at the level of “B3” with a forecast “Positive” from the agency Moody’s.
You can get more detailed information on the bank’s official website, on the pages of the bank in facebook , Instagram , linkedin or or calling Call Center Bank for number 144.