Yelo Bank has unveiled its financial statement for the second half of 2023. According to the report, the bank continues to show positive growth dynamics in its key financial indicators. For the first six months of the current year, Yelo Bank had a net profit of 8.7 million manats. The bank's total assets increased by 25 million over the end of last year, reaching 847 million manats.
In the reporting period, the Bank's interest income rose by 33% compared to the same period in 2022, surpassing 52 million manats. Non-interest income also exceeded 5 million manats.
The bank's loan and deposit portfolios continue to grow. Compared to the same period last year, the loan portfolio increased by 147 million, meaning by 27%, totaling more than 684 million manats. It's noteworthy that a significant portion of the issued loans was directed towards financing the real sector, one of Yelo Bank's priority aspects. As a result, the business portfolio grew by 34% to 444 million manats. The consumer credit portfolio increased by 33 million, meaning by 17% and reached 240 million manats compared to the same period last year. 33% of this sales and 37% of portfolio growth were executed through online channels.
Yelo Bank's deposit terms remain attractive for customers. Over the year, nearly 4,000 clients entrusted their deposits to Yelo Bank. As a result, the portfolio in this direction has grown to 592 million manats.
By the end of the reporting period, the bank's total capital exceeded 96 million manats, which is 46 million manats more than the regulatory requirement. The total capital adequacy ratio stands at 12.04%, and the primary capital adequacy ratio is at 7.44%, both surpassing the required standard.
It's worth noting that Yelo Bank is successfully completing its three-year strategic plan and has surpassed all set targets. Currently the bank's next three-year strategy is worked on. This new strategic period will focus on strengthening its market position, bolstering support for the real sector, expanding the number of digital branches, and promoting cashless transactions. Yelo Bank will continue to offer innovative banking solutions that meet customer needs.
Yelo Bank - Brighter Banking!