AccessBank disclosed its financial statements for 2023

“AccessBank”, a leader in the market of lending services for micro, small and medium enterprises, announced its financial results for 2023.

To get acquainted with the results, follow the link: https://www.accessbank.az/az/our-bank/in-figures/

Accordng to the results of 2023ç the Bank’s not profit amounted to AZN 39.8M. The same index in 2022 was AZN 15.0M. As a result, the Bank’s capital sustainability index has been strengthened and  total capital has increased by 41.9% or AZN 42.3Mand amounted to AZN 143.5M, which exceeds the regulatore requirement by 2.9 times.  

Increase of loan portfolio, especially of business loans, increase of depositors’ confidence in the bank, as well as the fundraising from international lendors can be indicated as drivers of the mentioned increase. Thus, during the last year:

• Loan portfolio has increased and exceeds AZN 1B. Total loan portfolio as of the end of the reporting period amounted to AZN 1 013.8M.

• 76.9% of loan portfolio is business loans, and the volume of business portfolio amounted to AZN 780.0M. During the reporting period, business portfolio increased by 23.0% or AZN 146.0AZN. Regional branch offices account for 55.3% of business loans disbursed during the year.

• Volume of deposit portfolio exceeds AZN 1B and amounted to AZN 1 051.6M as of the end of 2023, that is increased by 22.3% compared to 2022.

• Term deposits of population increased by 20.9% from the beginning of the year and reached to AZN 722.1M.

• In 2023, AccessBank attracted a loan of AZN 51.0M in national currency from international reputable foreign lenders, AZN 8.5M of which is the first "green" finance for the financial sector.

• Bank’s assets increased to AZN 1.4B, which is 19.1% more than in 2022.

• Interest income increased by 39.0% compared to 2022 and amounted to AZN 195.3M. Net interest income increased by 46.0% compared to 2022 and reached to AZN 122.0M.

• Non-interest income increased by 36.7% compared to the same period of the last year and amounted to AZN 17.9M.

• Net operations income reached to AZN 56.3M in 2023. The same index in 2022 was AZN 22.9M.

• Liquidity position of the Bank is stable and the liquidity rate is 73.7%, which is 2.5 times more than the minimum requirement of CBAR.