Yelo Bank has announced its financial results for 2023, showing impressive growth. Key highlights include:
- The bank's net profit has quadrupled, surpassing 20 million manat.
- Yelo Bank maintained strong growth in its credit portfolio, which rose by 23% to reach 764 million manat. Business loans accounted for 63% of the portfolio, amounting to 466 million manat, with a 22% increase.
- Over 268 million manat in consumer loans were disbursed, driving a 28% increase in this segment to 281 million manat. Over 60% of these loans were provided through online channels.
- The volume of term deposits from individuals increased by 36%, nearing half a billion manat, indicating the attractiveness of Yelo Bank's deposit products.
- Both interest and non-interest income saw significant growth, with interest income rising by 30% to 113 million manat and non-interest income up by 21% to 12 million manat.
- The bank's total capital exceeded 109 million manat, an increase of 16 million manat compared to the end of 2022.
In 2023, Yelo Bank expanded its service network in regions, opening new digital concept branches in Khachmaz, Tovuz, and Masally. In 2024, more branches will be opened, and existing ones will be further improved.
Interested in placing a deposit with Yelo Bank? Call 981 or visit us on Facebook, Instagram, WhatsApp, and yelo.az.
Yelo Bank – Bright Banking!