Bank of the Republic, one of the leading banks of Azerbaijan, announced financial results for the third quarter of 2022. According to the reporting, the bank continued the dynamic development and once again confirmed the status as one of the leaders of the country’s banking sector.
As of October 1, 2022, the bank’s assets exceeded 1.5 billion manat, which is one of the highest indicators among Azerbaijan banks. From the published reporting it is clear that the bank has a fairly high stock of capital for sustainable development. So, the total capital of the bank increased by 21% and amounted to 119.04 million manat, exceeding the regulatory norm by more than 2 times.
Based on the results of 9 months, confident growth is also observed in the deposit portfolio of the bank. Compared to the corresponding period last year, the bank’s deposit portfolio increased by 19%, which once again confirms the trust of a large number of customers to the Bank of the Republic.
In 2022, the bank continued active lending to the real sector, which is a priority for both the bank and the country’s economy. The bank has concluded credit agreements with large international financial organizations, such as the European Bank for Reconstruction and Development (EBRD), the Dutch Bank for Entrepreneurship Development (FMO), the European Fund for Southeast Europe (EFSE), the European investment company (EMF Microfinance Fund). The raised funds were aimed at financing micro and small business, in particular, to finance entrepreneurs in the regions.
the Bank of the Republic was created in 1992 and is part of the five leading banks of Azerbaijan. Among the bank shareholders, one of the largest financial institutions in Germany is represented by 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 calling the Call Center Bank by number 144.