"Bank Respublika" demonstrates growth in all financial indices

Baku, July 25, 2023. "Bank Respublika", one of the largest banks in the country, has published financial results for the first half of 2023. 

The report says that the bank continued its dynamic development, thereby strengthening its leading position in the banking services market of Azerbaijan.

As compared to the first half of 2022, the bank's assets grew by 24% and amounted to 1.71 billion manats, which is one of the highest indices among the country's banks. The published reports also show that the bank has a sufficiently high capital reserve for sustainable development. Thus, the total capital of the bank grew by 32% and amounting to 141.4 million manats and thereby exceeding the regulatory norm by 2.8 times.

As compared to the same period of the last year, the bank's interest income rose by more than 37%, reaching 53.39 million manats, net operating profit rose by nearly 2 times, reaching 21.9 million manats, and the bank's net profit rose by 41% amounting to 17.59 million manats.

The bank's deposit portfolio also shows stable growth, which is an index of high level of trust in the bank from customers. Thus, as compared to an appropriate period of the last year, the bank's deposit portfolio grew by 30.1% amounting to 1.06 billion manats.

As a reminder, the "Bank Republic" was established in 1992 and is one of the five leading banks in Azerbaijan. Among the shareholders of the bank is the largest financial institution in Germany - "Sparkassen International Development Trust" (a member of the "Sparkassen-Finanzgruppe" financial group). The bank has one of the highest international ratings in the banking sector of Azerbaijan - a rating of “B3” with a Positive outlook from Moody's.

You can get more detailed information on the bank's official website, Facebook, instagram, linkedin, telegram pages or by calling the Bank's Call Center at 144. ®