AccessBank, your local European bank, has published its financial results for the first half of 2024. During this period, AccessBank strengthened its market position by providing reliable financial services to its customers.
For more detailed information, visit: AccessBank Announces Financial Results for the First Half of 2024
In the first half of 2024, AccessBank exhibited dynamic growth across all key financial indicators. The bank's net profit for the reporting period reached 27.2 million manats, a 39.5% increase compared to the same period last year.
Key financial highlights compared to the previous year include:
- Interest income rose by 19.3% to 107.7 million manats.
- Net interest income grew by 23.9% to 66.7 million manats.
- Non-interest income amounted to 8.6 million manats.
- Net operating profit increased 1.4 times, reaching 27.2 million manats.
As a result, AccessBank's total regulatory capital amounted to 167.4 million manats, exceeding the minimum regulatory requirement set by the Central Bank of Azerbaijan by 3.3 times.
AccessBank continues to implement its strategy to increase financial access in the country, leading to a 15.1% increase in its loan portfolio (141.7 million manats) compared to the same period last year, totaling 1.081 billion manats. The growth in the portfolio was primarily driven by microbusiness financing. Since the beginning of the year, the business loan portfolio has increased by 18.4% (130.8 million manats) compared to the same period last year, reaching 841.6 million manats.
AccessBank's assets grew by 12.2% compared to the same period last year, amounting to 1.5 billion manats by the end of the reporting period. The deposit portfolio increased by 4.5% compared to 2023, reaching 1.029 billion manats.
AccessBank, a pioneer in the microfinancing market, has been providing services to small and medium-sized enterprises since 2002. The Bank's shareholders include the Asian Development Bank, the European Investment Bank, the International Finance Corporation, and other international organizations and investment funds. With 35 branch offices, including 14 in Baku and 21 in regions, AccessBank continues to offer accessible financing options for MSMEs. For more detailed information on the branh offices, please follow: http://bit.ly/accessbank-filiallar
For more information on the services provided by AccessBank, call 151 or visit the website at www.accessbank.az. You can also follow the bank's social media accounts on Facebook, Instagram, LinkedIn.
*AccessBank CJSC operates under license No. 245 dated 25 October 2002, issued by the Central Bank of the Republic of Azerbaijan. The bank's Head Office is located at 3 Tbilisi avenue, Yasamal district, Baku city.
