The local unit of the European Access Bank during the year increased assets by 30.9% - up to 1 billion 54 million 461 thousand manat.
According to the bank, its loan portfolio by 1 January amounted to 821 million 470 thousand manat (+ 31.3% YoY) while the deposits were at the level of 280 million 637 thousand manat, where the population's deposits were 256 million 64 thousand manat (+ 35.6%).
Liabilities, including short-term ones, by January 1 were 903 million 20 thousand manat. The capital of the bank by the end of last year's cycle was equal to 151 million 440.6 thousand manat (+ 19.8%) at the constant authorized capital of 85 million manat. The net profit of the financial structure during the year amounted to 40 million 435.8 thousand manat.
Access Bank has been operating in Azerbaijan since 2002, and its shareholders are the European Bank for Reconstruction and Development, the International Finance Corporation, the Black Sea Trade and Development Bank, German KfW, Access Holding, and LFS Financial Systems GmbH. --17D-
Economics
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Azerbaijan navigated a turbulent economic period in 2024, characterized by inflationary pressures, persistent fears of devaluation, and limited structural reforms. While official data pointed to moderate inflation, deeper vulnerabilities and growing public dissatisfaction cast a shadow over the country's financial stability, economist Gubad Ibadoglu noted.
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