Yelo Bank published a financial report for the first quarter of 2021. During the reporting period, the positive dynamics of the main financial indicators of the bank was noted.
Compared with the end of last year, the Bank in the first quarter of 2021 significantly increased the income and completed the reporting period with a net profit of 5.7 million manat. At the same time, the cumulative assets of the bank increased by 10.5 million manat and amounted to 401.4 million manat.
The Bank’s loan portfolio has increased significantly. Thus, the cumulative loan portfolio increased by 6.5% compared to the end of 2020 and amounted to 328.4 million manat. The volume of business loans that make up an important part of the portfolio increased by 20 million manat for the reporting period. A positive trend is also observed in the consumer loan portfolio, where growth amounted to 8 million manat.
The net interest income of the bank in the first quarter of this year increased more than twice, reaching 9.9 million manat.
Currently, the cumulative capital of the bank is 59.4 million manat, which is 9.4 million manat more regulatory norm.
Commenting on the financial results of the first quarter, the Chairman of the Board of Yelo Bank Anar Gasanov said: “We already see the fruits of our new strategy. The bank’s profit is the result of the confidence of customers and purposeful work of our strong team. Positive economy revival signals also give an additional impetus to our implementation of our Business goals. At present, our main task is to meet the expectations and needs of our customers at the highest level in a pandemic. We believe that, supporting such a pace, completed 2021 years old with successful results. “