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Azerbaijan-based banks ranked in terms of assets

25 August 2008 15:13 (UTC +04:00)

Banks		Assets (million AZN)
1	International Bank of Azerbaijan	3 635,842
2	Bank Standard	712,329
3	UniBank	479,397
4	Technikabank	414,627
5	Bank Respublika	330,736
6	Xalg Bank	325,693
7	Kapital Bank	285,800
8	Azerdemiryolbank	200,200
9	AGBank	199,817
10	Bank of Baku	176,224
11	Microfinance Bank of Azerbaijan	175,677
12	Nikoil Bank	170,021
13	Pasha Bank	149,482
14	AtaBank	116,752
15	Zamin Bank	115,433
16	Bank of Azerbaijan	105,109
17	Mughan Bank	99,484
18	Rabitabank	98,649
19	Royal Bank of Baku	85,067
20	YapıKredi Bank Azerbaijan	82,973
21	Azerbaijan Industry Bank	81,121
22	Turanbank	76,175
23	Amrahbank	63,609
24	Para Bank	56,500
25	Bank Avrasiya	41,886
26	Azer-Turk Bank	37,463
27	Birlik Bank	36,448
28	Kafkaz Development Bank	35,627
29	NBCBank	34,659
30	Debut Bank	33,333
31	Atrabank	32,192
32	United Credit Bank	30,878
33	Deka Bank	27,190
34	Gandjabank	27,147
35	Azerbaijan Credit Bank	26,597
36	Kredo Bank	26,130
37	Gunaybank	25,015
38	Melli İran Bank, Baku branch	20,738
39	Azernaqliyyatbank	19,976
40	Kovser Bank	16,523

Only 40 of 44 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 makes
$4 479 million in dollar equivalent.
Five privately owned banks â€“ Bank Standard, UniBank, Technikabank, Bank Respublika and Khalg Bank follow International Bank of Azerbaijan in the list, proving dynamic development of non-state banking sector in the country.
The second state-owned bank Kapital Bank, which was recently privatized, ranked the 7th in terms of its assets.
As shown in the list, assets of only 8 banks exceed AZN 200 million ($246 million) while 16 others own assets of above AZN 100 million.