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Azerbaijan-based banks ranking in terms of assets

07 September 2009 15:13 (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 July 1, 2009.

Banks		Assets (AZN million)
1	International Bank of Azerbaijan	3 466,987
2	Bank Standard	523,721
3	Texnikabank	464,300
4	Xalg Bank	395,887
5	Bank Respublika	394,800
6	Kapital Bank	356,653
7	UniBank	341,857
8	Nikoil Bank	279,795
9	Pasha Bank	246,967
10	AccessBank	243,417
11	Azerdemiryolbank	215,400
12	AGBank	210,296
13	AtaBank	176,400
14	Bank of Baku	168,307
15	Yapı Kredi Bank Azerbaijan	151,019
16	Zamin Bank	150,331
17	Bank of Azerbaijan	127,285
18	Royal Bank of Baku	125,395
19	Mughan Bank	116,379
20	Rabitabank	83,187
21	Turan Bank	81,600
22	Para Bank	74,852
23	Azerneqliyyatbank	69,723
24	Azerbaijan Industry Bank	63,787
25	Amrahbank	63,064
26	Kredo Bank	50,614
27	Birlik Bank	50,402
28	Bank Avrasiya	48,137
29	Azer-Turk Bank	47,043
30	NBCBank	44,527
31	Atrabank	34,293
32	United Credit Bank	33,188
33	Gandja Bank	32,784
34	Kafkaz Development Bank	32,397
35	Deka Bank	31,926
36	Melli İran Bankı - Bakı	31,754
37	Gunay Bank	31,706
38	Debut Bank	29,831
39	Azerbaijan Credit Bank	27,558
40	Kovser Bank	17,201

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 $4.311 billion in dollar equivalent.