AccessBank disclosed its financial statements for QI, 2023
AccessBank, a leader in micro, small and medium enterprises market, announced its financial results for QI, 2023.
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The Bank demonstrated dynamic growth across all key indicators during QI, 2023 and maintained its leadership position in business financing.
- Loan portfolio increased by 7.9% during the quarter, and reached AZN 877.9M.
- 76.8% of loan portfolio is business loans. Business portfolio increased by 6.3% or by AZN 40.0M during this quarter. 50.9% of business loans has been disbursed by regional branches during the quarter.
Profit indicators of AccessBank also demonstrated dynamic growth. Thus, as compared to the same period of the last year:
- Interest income increased by 39.1% and reached AZN 42.7M. Net interest income increased by 49.4% and reached AZN 26.1M.
- Non-interest income increased by 1.4 times and exceeded AZN 4.2M
- Net operational profit increased by 3.5 times and reached AZN 10.6M.
- Net profit increased by 5.8 times as compared to the results of the relevant period of 2022 and reached AZN 5.5M.
Total assets of the Bank increased by 7.8% during the quarter and reached AZN 1.3B by the end of the reporting period.
- At the same time, liquid assets of the Bank is AZN 274.5M, which is 21.8% of total assets.
- Deposit portfolio increased by 10.3% during the quarter, and is amounted to AZN 948.8M by the end of QI.
- Term deposits of population increased by 5.1% during the quarter, and reached AZN 627.5M.
Capital buffer of AccessBank has also increased. Aggregate capital size increased by 6.4% or by AZN 6.5M during the quarter and reached AZN 107.6M, that is twice higher than the minimum standard required by CBAR
Quality service, express lending promote even more extension of the Bank’s client base, due to which a number of clients reached 535K as of the reporting period.
The Chairman of AccessBank’s Management Board, David Tsiklauri commented: “We are glad to see continuous strong execution by the AccessBank team. The Bank is fully on the course on delivery of its strategy and we are particularly pleased to see the growth across all our business segments.”