Bank of the Republic, one of the largest banks in Azerbaijan, published financial results for 2022. According to the reporting, the bank continued the dynamic development, showing an increase in all indicators, and achieved the highest results in its history!
As of January 1, 2023, the bank’s assets increased by 29% and amounted to 1.58 billion manat, which is one of the highest indicators among the country’s banks. From the published reporting, it is also seen that the bank has a fairly high stock of capital for sustainable development. So, compared with last year, the total capital of the bank increased by 22% and amounted to 127.47 million manat, exceeding the regulatory norm (50 million manat) more than 2 times.
compared with last year, the bank’s net interest income increased by more than 49%, reaching 84.8 million manat, net operating profit increased by more than 2 times, reaching 33.28 million manat, and the bank’s net profit increased by 37% and amounted to 26.65 million manat.
Based on the results of 12 months, the bank significantly increased the credit and deposit portfolios. So, compared with last year, the bank’s deposit portfolio increased by 21%, which once again confirms the trust of a large number of customers to the Bank of the Republic.
Last year, the Bank of the Republic continued successful activities to attract foreign investments to develop the country’s real sector and concluded credit agreements with large international financial organizations, such as the European Bank for Reconstruction and Development (EBRD), the Dutch Bank of Entrepreneurship (FMO), European Fund for Southeast Europe (EFSE), European investment company (EMF Microfinance Fund).
“We are very glad that in the year of the 30th anniversary, the Bank of the Republic was able to achieve such high results. During this time, the Bank of the Republic has established itself as a reliable financial institution, which has firmly occupied its niche in the financial and credit system of Azerbaijan. I would like to thank our team , all customers and partners for cooperation and contribution to achieving this result! With their impeccable work, high quality service, strengthening the introduction of digitalization of products and services, the Bank of the Republic in the future will also justify the trust, continuing the dynamic development, ”said the chairman of the supervisory board of the Bank of the Republic Shakir Ragimov
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.