15:18 - 10.10.2023
October 10, Fineko/abc.az. AccessBank, the market leader in lending to micro, small, and medium-sized enterprises, announces its financial results for the third quarter of 2023.
For detailed information, please visit: http://www.accessbank.az/az/our-bank/in-figures/
During the third quarter of 2023, the Bank has demonstrated dynamic growth across all key indicators and maintained its leadership in financing businesses. Compared to the corresponding period of the previous year:
The credit portfolio increased by 29.7%, reaching 992.4 million manat.
Business loans account for 75.8% of the loan portfolio. The business portfolio has grown by 22.8% or 139.8 million manat.
AccessBank's profitability indicators have also shown progressive growth. Compared to the corresponding period of the previous year:
Interest income reached 142 million manats. Net interest income rose to 88.7 million manats by the end of the third quarter of 2023.
Non-interest income increased by 57.2%, reaching 13.4 million manat.
Net operating profit increased by 3.1 times, reaching 40.9 million manat.
Net profit increased by 5.6 times compared to the corresponding period of 2022, reaching 29.3 million manat.
Overall, the Bank's assets have increased by 32.5% compared to the corresponding period of the previous year, reaching 1.4 billion manat at the end of the reporting period.
At the same time, the Bank's liquid assets amount to 331.1 million manat, which is 23.7% of total assets.
The Bank's deposit portfolio increased by 27.8%, amounting to 1025.6 million manat.
Time deposits of the population increased by 22.7%, reaching 680.6 million manat. This is one of the key indicators of strong confidence in AccessBank among the population.
AccessBank's capital buffer has also increased. The bank's total capital reached 133.9 million manats by the end of the third quarter of 2023, which is 2.7 times higher than the minimum requirement set by the Central Bank of Azerbaijan.
The Bank's network consists of 32 branches, including 14 in Baku and 18 in the regions, and it also offers digital services to customers.
