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AccessBank disclosed its financial statements for QII, 2022.

22 July 2022

AccessBank disclosed its financial statements for QII, 2022.

“AccessBank”, a leader in micro, small and medium enterprises segment, announced its financial results for QII, 2022.

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By the end of the second quarter, the Bank’s assets have reached AZN 1B.

Net loan portfolio of the Bank for the same period amounted to AZN 674.2M. Gross of loan loss provision, the Bank’s portfolio amounted to AZN 712.5M. During the second quarter, share of the net loan portfolio in the Bank’s balance increased from 64.0% to 67%.

During the QII, 2022, AccessBank disbursed loans in the amount of AZN 205.2M. Loan portfolio growth compared to the first quarter of the current year comprised AZN 45.6 M. More than 50% of monthly loans has been disbursed by regional branches and approximately 40% of total micro-loans has been issued to agricultural sector.

The Bank’s deposit portfolio increased by 13% in H1 and amounted to AZN 779.6M.   

Furthermore, net interest income of the Bank during the first six-month period was AZN 37.2M, that compared to the same period of the last year means 48% growth.

The Bank’s operational profit during the second quarter of 2022 was AZN 7.0M, while compared to the same period of last year this figure was AZN -1.4M.

Net profit of the Bank in the second quarter of 2022 amounted to AZN 1,037.0K, in H1 – AZN 1,839.75 AZN.

Currently, the total capital of the Bank is AZN 83.7M, that is AZN 33.7M more than the minimum total capital requirement (AZN 50M).

Quick ratio as of the end of June was 75.3%, that is approximately 2.5 times above of the prudential requirement (30%).