2024-04-26 08:05:34
Bank The republic once again confirmed its status as one of the leaders in the country’s banking sector
Bank Republic, one of the largest banks in the country, announced financial results for the first quarter of 2024. According to the reports, the bank continued its dynamic development and once again confirmed its status as one of the leaders in the country’s banking sector.
Thus, compared to the same period last year, the Bank showed an increase in all financial indicators and achieved significant positive results:
– Bank assets increased by 28% and amounted to 2.1 billion manats, which is one of the highest figures among the country’s banks.
– Total capital bank increased by 25% and amounted to 168.77 million manat, exceeding the regulatory norm by more than 3 times.
– Deposit portfolio the bank grew by 44% and amounted to 1.41 billion manats, which once again confirms the trust of a large number of clients in Bank Republic.
– the bank grew by more than 32%, reaching 34.58 million manat
– Net operating profit bank grew by 50%, reaching 16.89 million manat
– Net profit bank increased by 39% and amounted to 13.51 million manat
– Tier I capital adequacy ratio – 8.97% (norm 6%)
– Total capital adequacy ratio – 12.55%, (norm 12%)
– The leverage ratio – 5.85% (norm 5%)
Bank Republic was created in 1992 and is one of the five leading banks in Azerbaijan. Among the bank’s shareholders is one of the largest financial institutions in Germany – Sparkassen International Development Trust (member of the Sparkassen-Finanzgruppe financial group). The bank has one of the highest international ratings in the banking sector of Azerbaijan – a rating at the level of “B2” with a “Stable” forecast from Moody’s.
You can get more detailed information on the bank’s official website, on the bank’s pages on facebook, instagram, linkedin, telegram, or by calling the Bank’s Call Center at 144.