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Azerbaijan-based banks ranking in terms of assets

18 February 2009 09:43 (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 January 1, 2009.

Banks		Assets (AZN million)
1	International Bank of Azerbaijan	4 369, 751
2	Bank Standard	619,085
3	Kapital Bank	577,590
4	Texchnikabank	450,100
5	UniBank	417,563
6	Xalg Bank	403,710
7	Bank Respublika	387,875
8	Nikoil Bank	294,700
9	Azerdemiryolbank	224,698
10	AGBank	211,216
11	AccessBank	198,863
12	Pasha Bank	198,254
13	Bank of Baku	183,886
14	YapıKredi Bank Azerbaijan	173,628
15	AtaBank	152,844
16	Zamin Bank	135,577
17	Bank of Azerbaijan	108,756
18	Royal Bank	101,926
19	Mughan Bank	100,747
20	Rabitabank	94,425
21	Turan Bank	84,211
22	Azerbaijan Industry Bank	78,029
23	Para Bank	65,552
24	Amrahbank	62,396
25	Azer-Turk Bank	45,783
26	Bank Avrasiya	45,171
27	Birlik Bank	40,637
28	NBCBank	39,832
29	Kredo Bank	37,074
30	Atrabank	35,181
31	United Credit Bank	32,351
32	Kafkaz Development Bank	32,338
33	Debut Bank	31,505
34	Gandjabank	30,916
35	Deka Bank	27,359
36	Gunay Bank	27,162
37	Azerbaijan Credit Bank	26,908
38	Melli Iran Bank branch in Baku	19,805
39	Kovser Bank	17,245

Only 39 of 46 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. Some banks including Azernagliyyat Bank and Silkway Bank decline to release their financials.

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 $5.452 billion in dollar equivalent, accounting for 43% of the total bank assets in the country.