18:42 - 26.04.2019

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April 26, Fineko/abc.az. Net profit of "Yapı Kredi Bank Azerbaijan" CJSC, a member of a banking group operating in 17 European countries, for Q1 of 2019 has increased by 2.5 times compared to the same period of the previous year and amounted to 1.6 mln AZN.

Bank's report on Q1 of 2019 demostratates that net interest income grew by 10% to 7,6 mln AZN and revenues by 21% to 4,1 mln AZN. In addition, 22% reduction in asset provisions is a sign of a positive quality dynamics of the Bank's loan portfolio.

"Yapı Kredi Bank" continued to apply the global banking experience in Azerbaijan and as a result gained the trust of its customers. Thus, when we look at the demand deposits of individuals who trusted Bank and deposited their funds, we see that this figure increased by 28% in Q1 of 2019 compared to the corresponding period of 2018.

"Yapı Kredi Bank Azerbaijan" continued to take measures to finance the real sector in the country in accordance with the priorities set in the Strategic Roadmaps. As a result, in Q1 of 2019, the volume of the Bank's loan portfolio increased by 13% to 163 mln AZN compared to the same period of 2018.

Capital indicators of the Bank are satisfactory as well; as of Q1, 2019, Tier 1 Capital increased by 9% to 66.3 million AZN, Total Regulatory Capital by 11% to 71.3 million AZN compared to the same period of last year. A positive trend is recorded in Capital Adequacy Ratio (CAR) as well, as the Bank raised CAR from 20.7% to 23.1% since the end of last year, which is several times higher than the minimum requirement of local legislation.

It should be noted that "Yapı Kredi Bank Azerbaijan" is a member of a banking group operating in 17 countries of the world. The Bank, the main shareholders of which are "UniCredit" (Italy) and "Koç Holding" (Turkey), with its international experience in the banking sector in Azerbaijan, provides a wide range of services to customers with its branches located in Baku and Sumgait, 24/7 Call Center and Internet/Mobile banking products.