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Azerbaijan-based banks ranking for assets growth rate

10 November 2008 12:26 (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 growth rate in accordance with the available data as of October 1, 2008.

Banks		Annual growth in assets (%)
1	Nikoil Bank	258,3
2	Royal Bank of Baku	172,4
3	Xalg Bank	108,1
4	Kapital Bank	92,7
5	AccessBank *	84,7
6	Parabank	81,4
7	International Bank of Azerbaijan	79,5
8	Azerdemiryolbank	77,3
9	Zamin Bank	77,1
10	Bank Respublika	67,8
11	Bank of Baku	63,6
12	Birlik Bank	63,4
13	AGBank	60,6
14	United Credit Bank	59,1
15	NBCBank	55,0
16	Turanbank	53,5
17	Amrahbank	52,3
18	Technikabank	48,4
19	AtaBank	48,1
20	UniBank	46,9
21	Kredo Bank	41,9
22	Rabitabank	40,2
23	Bank of Azerbaijan	37,2
24	Azerbaijan Industry Bank	32,9
25	Yapı Kredi Bank Azerbaijan	26,5
26	Mughan Bank	24,8
27	Gandjabank	23,9
28	Debut Bank	23,3
29	Gunaybank	20,2
30	Bank Standard	20,0
31	Azerbaijan Credit Bank	16,0
32	Azer-Turk Bank	14,9
33	Deka Bank	7,7
34	Kafkaz Development Bank	6,6
35	Atrabank	4,8
36	Melli İran Bank, Baku	- 3,3
37	Bank Avrasiya *	-
38	Pasha Bank *	-

* Microfinance Bank of Azerbaijan changed its name to AccessBank on September 8, 2008.
* Bank Avrasiya and Pasha Bank launched operations in November 2007.

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.