2024-04-26 01:06:39
Yelo Bank successfully completed the first quarter of 2024, showing excellent financial results. The bank’s net profit amounted to 14 million manats, which confirms stable growth dynamics in key financial indicators.
The total volume of the loan portfolio reached 802.5 million manat, which is 25% or 163 million manat more than in the same period of the previous year. The bank pays special attention to supporting micro, small and medium-sized businesses: during the quarter, business loans worth over half a billion manats were issued to more than 5.5 thousand clients. The business loan portfolio increased by 21%, or 92 million manats, compared to last year.
There is also growth in the field of consumer lending: during the reporting period, the bank issued more than 63 million manats of loans to 7 thousand clients. The consumer loan portfolio increased by 33%, reaching 290 million manats, with 39% of sales and 46% of portfolio growth carried out through online channels.
By the end of the quarter, the deposit portfolio amounted to 837 million manat, which indicates a high level of customer confidence. A significant part of the portfolio growth, more than 177 million manats, is accounted for by individuals.
Interest income for the quarter increased by 59%, amounting to 39 million manat, while non-interest income also increased significantly, exceeding 16 million manat.
The total capital of the bank exceeded 118 million manats, 68 million manats more than the regulatory requirement. The total capital adequacy ratio is 12.29%, and the first level ratio is 8.31%, which exceeds the required standards. The volume of the bank’s assets at the end of the quarter reached 1 billion 130.8 million manats.
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