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Azerbaijan-based banks ranked in terms of assets

03 November 2008 15:39 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. APA-Economics 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, 2008.

(mln. AZN)

Banks		Assets
1	International Bank of Azerbaijan	4 208,654
2	Bank Standard	660,816
3	UniBank	467,235
4	Technikabank	439,645
5	Kapital Bank	422,448
6	Bank Respublika	405,084
7	Xalg Bank	379,752
8	Nikoil Bank	337,499
9	Azerdemiryolbank	226,600
10	AGBank	217,293
11	AccessBank	187,532
12	Bank of Baku	185,149
13	Pasha Bank	183,152
14	AtaBank	134,586
15	Zamin Bank	118,776
16	Bank of Azerbaijan	110,384
17	Yapı Kredi Bank Azerbaijan	108,775
18	Royal Bank of Baku	100,473
19	Rabitabank	96,571
20	Mughan Bank	91,851
21	Turanbank	86,100
22	Azerbaijan Industry Bank	75,541
23	Amrahbank	65,073
24	Parabank	62,100
25	Bank Avrasiya	51,094
26	Birlik Bank	42,246
27	Azer-Turk Bank	42,032
28	NBCBank	37,414
29	Atrabank	34,093
30	United Credit Bank	33,514
31	Kafkaz Development Bank	33,232
32	Debut Bank	32,797
33	Kredo Bank	29,573
34	Gandjabank	29,544
35	Deka Bank	27,414
36	Gunaybank	26,720
37	Azerbaijan Credit Bank	26,103
38	Melli İran Bankı Bakı	18,520

* Microfinance Bank of Azerbaijan changed its name to AccessBank on September 8, 2008.

Only 38 of 45 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 $5.204 billion in dollar equivalent.