Azerbaijan-based banks ranked in terms of assets

Azerbaijan-based banks ranked in terms of assets
# 03 November 2008 15:39 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. APA-Economics provides ranking of Azerbaijan-based bank organizations for their various figures and financial performance.The project aims to highlight banks’ 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.
IBA’s assets makes $5.204 billion in dollar equivalent.
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