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Azerbaijan-based banks ranking in terms of assets

01 June 2009 10:00 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. APA-Economics regularly provides ranking of Azerbaijan-based bank organizations for their various figures and financial performance.

The project aims to highlight banksâ€™ financial performance and update the public and potential investors. In the table below, bank organizations are ranked by assets in accordance with the available data as of April 1, 2009.

Banks		Assets (AZN million)
1	International Bank of Azerbaijan	3 308,797
2	Bank Standard	539,286
3	Texnika Bank	431,483
4	Xalg Bank	386,153
5	UniBank	374,181
6	Kapital Bank	341,534
7	Nikoil Bank	289,249
8	Bank Respublika	274,978
9	AccessBank	229,790
10	Azerdemiryolbank	213,029
11	Pasha Bank	207,817
12	AGBank	204,767
13	Bank of Baku	166,348
14	AtaBank	153,350
15	Zamin Bank	136,403
16	Bank of Azerbaijan	117,086
17	Royal Bank of Baku	113,087
18	Yapı Kredi Bank Azerbaijan	112,096
19	Mughan Bank	108,783
20	Rabitabank	85,605
21	Turan Bank	80,563
22	Para Bank	71,411
23	Amrahbank	61,442
24	Azerbaijan Industry Bank	61,373
25	Kredo Bank	47,339
26	Bank Avrasiya	46,724
27	Azernaqliyyatbank	46,420
28	Azer-Turk Bank	44,503
29	NBCBank	40,425
30	Atrabank	34,956
31	United Credit Bank	32,598
32	Kafkaz Development Bank	32,012
33	Deka Bank	31,419
34	Debut Bank	30,636
35	Gandja Bank	30,129
36	Melli Iran Bank Baku	29,987
37	Gunay Bank	28,580
38	Azerbaijan Credit Bank	27,405
39	Kovser Bank	16,843
40	Azfinansbank	10,563

Only 40 of 46 banks operating in Azerbaijan are ranked in the table because others reject relations with media, declined to publicize their financial performance and put forward other types of subjective reasons not to submit figures.

As expected, International Bank of Azerbaijan (IBA), the largest bank of Azerbaijan and the region, ranked the first in the list.
With a 50.2% state-owned stake, IBA achieved the leading role because of large coverage throughout the country, dynamic growth and other objective reasons.
IBAâ€™s assets reached $4.121 billion in dollar equivalent.