Capital Position Yelo Bank is strengthened

Being one of the fastest growing banks of the country, Yelo Bank attracted additional funding due to its successful activity. Thus, the main shareholder signed an agreement on the allocation of a subordinated loan in the amount of 25 million manat for a period of 6 years. This agreement indicates a high level of confidence and confidence in the long-term stability of the bank. Thus, Yelo Bank will be able to increase the level of capitalization and liquidity due to long-term financial resources.

According to Chairman of the Board of Anara Gasanova, the allocated funds will be aimed at lending to the real sector, especially small and medium-sized businesses, which is a priority for the bank.

“Attracting subordinated loans is a very important step for the development of the Bank. At the expense of this, the capital position of our bank will strengthen, a large number of liquid funds will be obtained and credit activities will increase. It also creates additional opportunities to finance new business projects,” said A. Gasanov.

It should be noted that a special subordinated debt obligation is classified as the capital II capital in accordance with the “Rules for calculating the Bank’s capital and its sufficiency.” At the end of February of this year, the cumulative capital of the bank exceeded 63 million manat. Due to the attracted subordination tools, it is planned to exceed the total capital of 89 million manat. This indicates an excellent regulator requirements by 78% of the Bank’s high sustainability to capital.

At the same time, from the beginning of 2022, there is also an increase in the financial results of YELO Bank. In the first two months of this year, the Bank attracted more than 30 million manats of deposits. This exceeds the results for the same period last year more than twice. In January and February of the current year, interest income in January and February also increased by 21% compared to the same months of 2021 and exceeded 11 million manat. Bank assets increased by 18 million manat since the beginning of the year and 166 million manat since the beginning of last year, exceeding 551 million manat. In just the first two months, Yelo Bank provided loans worth 77 million manat, 70% of which were aimed at financing micro, small and medium-sized enterprises. All this is an indicator of the successful implementation of the Strategic Development Plan of the Bank.

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