One of the largest banks of the country – the Bank republic – published financial results for 2021. According to reports, the Bank continued the dynamic development showing an increase in all indicators and strengthened its leading positions in the banking services market of Azerbaijan.
As of January 1, 2022, the Bank’s assets amounted to more than 1.2 billion manat, which is 19% more than a similar date last year. Of the published reporting, it is also seen that the bank has a sufficiently high stock of capital for sustainable development. Thus, the cumulative capital of the bank increased by 25% and amounted to 104.48 million manat, exceeding the regulatory norm (50 million manat) more than 2 times.
Compared to 2021, the bank’s net percentage profit increased by 25%, reaching 56.8 million manat, and net profit was 19.5 million manat, which is more than 3 times higher than the indicators of the same period last year.
According to the results of 12 months, the Bank significantly increased credit and deposit portfolios. So, compared with last year, the Bank’s loan portfolio increased by more than 65%, the main part of the loans issued was aimed at lending to the real sector, which is a priority for both the bank and the country’s economy. The bank’s deposit portfolio increased by 16.2%, which once again confirms high customer confidence in the bank.
It is also worth noting that the level of capital’s capital adequacy coefficient amounted to 8.12%, and the coefficient of adequacy of total capital is 13.66%, which is higher than the norm of 1.6 and 1.4 times, respectively.
“Bank, thanks to the high standards of corporate governance, a reliable risk management system showed high risk resistance in 2020, which served as a basis for excellent financial results both in credit and non-credit directions in 2021. I thank all employees Bank for professionalism and efficient work, and I also want to express my appreciation to our partners and customers for support and trust rendered. In 2022, we plan to strengthen the real-sector service activities, creating innovative products and implementing new digital solutions “- said the chairman of the Supervisory Board of the Bank of the Republic Shakir Ragimov.