Yelo Bank announced financial results for the 4th quarter of 2022. The bank and in the last quarter continued the positive dynamics of the growth of basic financial indicators that had begun last year. Thus, the bank’s assets over the year increased by 287 million manat, exceeding 821 million manat.
The development of the bank loan portfolio has been successfully continuing for a long time. The total portfolio increased by 176 million manat over a year and reached 622 million manat. In accordance with the mission of the bank, an important part of the loan portfolio is financing the real sector. In 2022, Yelo Bank issued more than 19 thousand business credits, as a result of which the portfolio of business loans increased by 137 million, that is, by 53%, reaching 396 million manat.
For the fourth quarter, more than 5 thousand customers were issued consumer loans in the amount of 46 million manat. As a result, the loan portfolio in this area exceeded 220 million manat, showing an increase of 22%, which amounted to 39.9 million manat. 30% of these sales, as well as 49% of the portfolio increase were carried out through online channels.
There is also a noticeable growth of the deposit portfolio, which is an indicator of customer confidence. So, during 2022, more than 10 thousand customers entrusted their savings to the bank, as a result of which the total deposit portfolio exceeded 572 million manat with an increase of 62%. The rapid growth of the number of new customers indicates that the quality of service and deposit conditions correspond to their expectations.
The bank’s interest income for the reporting period amounted to 86 million manat. This is 23 million manat more than in 2021. It should be noted that Yelo Bank completed a year with a net profit of 5.2 million manat.
The total capital of the bank for the reporting period exceeded 93 million manat. This is 43 million manat more than a regulatory requirement. The coefficient of adequacy of the total capital is 13.13%, and the adequacy coefficient of first -level capital is 7.84%, which exceeds the required norm for both indicators.
It should be noted that during 2022, Yelo Bank has expanded the service network. Several branches in the regions have been opened, existing branches have been improved. Most newly open branches have a digital concept. The main goal of branches with such a concept is to provide customers with convenient and quick conducting banking operations, as well as stimulating non -cash transactions.
The bright successes of the bank do not end there. In the direction of stimulating cashless payments last year, the bank introduced a number of innovations and innovative services. As a result, in 2022, the bank’s turnover increased by 70% compared to 2021. For the convenience of customers, a number of digital innovations were introduced. That is why the Yelo mobile application, estimated by 1000 criteria, was chosen by the Mobile Banking Day 2022 consulting mobile application at the Mobile Banku 2022 conference. In 2023, the bank will continue to bring bright innovations to the banking sector.
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Yelo Bank – Bright Banking.