Yelo Bank has successfully completed the first quarter of 2024 with strong results. At the end of the quarter, the bank's net profit exceeded 14 million AZN. A steady growth trend is also observed in other key financial indicators. Specifically:
The total loan portfolio increased by 163 million AZN, or 25%, compared to the same period last year, reaching 802.5 million AZN. In line with the bank's mission, a significant portion of the portfolio is dedicated to micro, small, and medium-sized businesses. As a result of business loans provided to over 5,500 customers during the quarter, the portfolio in this area has surpassed half a billion AZN. The business loan portfolio has grown by 21%, or 92 million AZN, compared to the same quarter last year.
Similarly to the business sector, the consumer loan portfolio continues to show positive growth. During the reporting period, more than 7,000 customers were granted consumer loans totaling over 63 million AZN. As a result, this portfolio has increased by more than 33% compared to the same period last year, surpassing 290 million AZN. 39% of these sales and 46% of the portfolio growth were made through online channels.
By the end of the first quarter, the deposit portfolio amounted to 837 million AZN. A significant portion of this portfolio growth (over 177 million AZN) was due to deposits from individuals, reflecting the trust and confidence in the bank.
Both interest and non-interest income of the bank have increased. Compared to the same period in 2023, interest income grew by more than 14 million AZN, or 59%, reaching 39 million AZN, while non-interest income grew to over 16 million AZN.
At the end of the reporting period, the bank's total capital exceeded 118 million AZN, which is 68 million AZN higher than the regulatory requirement. The capital adequacy ratio stands at 12.29%, while the Tier 1 capital adequacy ratio is 8.31%, both exceeding the required norms. The total assets of the bank at the end of the quarter amounted to 1.13 billion AZN.
Do you have any additional questions about the bank's services? If so, call 981 or visit our pages on Facebook, Instagram, Whatsapp, and yelo.az.
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