Yelo Bank published a financial report for the first quarter of 2022. In the new year, the bank started brightly, confidently preserving the positive dynamics of the growth of the main financial indicators. Bank assets increased compared to the end of last year by 145 million, that is, by 27 percent, and exceeded 678 million manat.
The bank has long been tending to increase the loan portfolio. Thus, compared with the end of 2021, the loan portfolio increased by 26 million manat and reached 472 million manat. During the reporting period, the bank allocated loans for 77 million manat for financing the real sector.
Over 27 million consumer loans, about 4 thousand customers were issued for the first quarter, as a result of which the loan portfolio in this segment increased by 8 million, reaching 119 million manat. Almost 30% of these sales were made through online channels.
In the deposit portfolio for this period, an increase of 28% in the amount of 100 million manat is also observed. This increase occurred due to deposits of individuals, which indicates an increase in customer confidence in Yelo Bank. So, in the first three months of 2022, more than 1,200 customers opened their contributions to Yelo Bank, as a result of which the bank’s deposit portfolio exceeded 452 million manat.
The bank’s net percentage income for the reporting period amounted to 12 million manat, which means an increase of 20% compared to the same period last year. Note that the bank created credit reserves in the amount of 3.4 million manat and completed the quarter with a profit of 345 thousand manat. Non -expert income for the first quarter amounted to more than 1.3 million manat, which is also twice as high as income earned for the same period last year.
The total capital of the bank amounted to 89 million manat, which is 39 million manat more than the regulatory requirement. The total coefficient of capital adequacy is 14.61%, and the adequacy coefficient of first -level capital is 9.33%, thereby exceeding the required norm for both indicators.
Yelo Bank Chairman Anar Hasanov commented on the financial results of the 1st quarter as follows: “Looking at the results of our bank over the past year, and in the first months of this year, I am once again convinced of the correctness of our development strategy. Of course, these results could not be achieved without our professional team and growing confidence from our customers. We started 2022 in accordance with our goals and intend to launch several more new digital products that will facilitate the lives of customers, as well as expand our service network, especially in the regional direction . “
During the first quarter of 2022, the bank has already opened two new regional branches in Salyan and Agdzabedi.
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