12:38 - 25.05.2023

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May 25, Fineko/abc.az. Out of the 25 banks operating in Azerbaijan, five banks allocated more to special reserves in the 1st quarter of 2023 than for Q1 of 2022.

ABC.AZ reports that among them are Turan Bank, Xalq Bank, Unibank and Zıraat Bank Azərbaycan, and Access Bank. The highest dynamics was recorded on Turan Bank (41.5-fold) and the lowest on Zıraat Bank Azərbaycan (3.2%).

Investments in special reserves observed decline on six banks – International Bank of Azerbaijan (ABB), Kapital Bank, Günay Bank, Muğan Bank, and Yapi Kredit Bank Azerbaycan. The largest decrease was recorded on Muğan Bank (97.4%) and the smallest on ABB (20.2%).

Four banks – Yelo Bank, Bank of Baku, Bank Respublika and Bank VTB Azerbaycan - increased their savings on transfers to special reserves, and two banks – Azerbaijani Industrial Bank and Express Bank — reduced their savings on transfers to special reserves.

Two banks - PASHA Bank and Azer-Turk Bank – directed finances for special reserves for Jan-Mar 2023, accumulated savings for Jan-Mar 2022, six banks - Rabitabank, Naxçıvan Bank, Premium Bank, BTB Bank and AFB Bank, the Baku branch of the National Bank of Iran allocated funds for Q1 of 2022. Therefore, it was not possible to calculate the dynamics of transfers/savings of these banks on special reserves.