Finance

Finance

Azerbaijan-based banks ranking in terms of assets

11 November 2009 12:59 (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 October 1, 2009.

(mln. AZN)

Banks		Assets
1	International Bank of Azerbaijan	4 758,574
2	Bank Standard	517,655
3	Technika Bank	449,996
4	Kapital Bank	449,217
5	Xalg Bank	441,520
6	Bank Respublika	364,472
7	UniBank	345,043
8	AccessBank	270,313
9	DemirBank	251,011
10	Pasha Bank	250,040
11	AGBank	227,339
12	Nikoil Bank	218,097
13	AtaBank	188,685
14	Bank of Baku	179,299
15	Zamin Bank	162,066
16	Bank of Azerbaijan	144,531
17	YapıKredi Bank Azerbaijan	138,469
18	Royal Bank	135,555
19	Mughan Bank	130,618
20	Azerbaijan Industry Bank	107,664
21	Turan Bank	101,30
22	Rabitabank	86,136
23	Parabank	74,457
24	Amrahbank	63,094
25	Kredo Bank	57,913
26	Birlik Bank	51,552
27	Azer-Turk Bank	49,706
28	NBCBank	49,258
29	Azerneqliyyatbank	49,127
30	Gandjabank	36,433
31	Bank Avrasiya	36,104
32	Kavkaz Development Bank	35,302
33	Atrabank	34,768
34	United Credit Bank	34,527
35	Gunaybank	31,910
36	Deka Bank	31,828
37	Melli Iran Bank - Baku	30,731
38	Azerbaijan Credit Bank	27,395
39	Kovser Bank	17,336

Only 39 of 46 banks operating in Azerbaijan are ranked in the table because others rejeced 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 $5.923 billion in dollar equivalent.