Yelo Bank achieves 26 million manats net profit in H1 2024

• Since the beginning of the year, the total loan portfolio has increased by 83 million manats (11%). By the end of the quarter, the volume of the total loan portfolio was 846.7 million manats. It should be noted that the main part of the granted loans was directed to the financing of the real sector, which is one of the priority directions for Yelo Bank.


• During the first six months of 2024, more than 11,000 customers were given business loans worth 221 million manats. As a result, the business credit portfolio increased by 47 million manats (up to 10%) compared to the end of last year and increased by 86 million manats (over 19%) to 529.7 million manats compared to the same period last year.


• During the same period, over 159 million manats in consumer loans were allocated to more than 14,000 customers. As a result, the consumer credit portfolio grew to 317 million manats. This means an increase of 36 million manats (13%) compared to the end of last year and 77 million manats (32%) compared to the same period last year. 38% of these sales, as well as 52% of portfolio growth, were made through online channels.


• By the end of June of the current year, the deposit portfolio amounted to 807.7 million manats. During the period, the deposit portfolio of individuals increased by 60.7 million manats, which is an indicator of trust and confidence in Yelo Bank.


• The bank's interest income amounted to 75.8 million manats, an increase of more than 23 million manats (44%) compared to the same period last year. Non-interest income increased more than three times, exceeding 19 million manats.


Anar Hasanov, Chairman of Yelo Bank's Management Board, commented on the financial results at the end of the second quarter: "The high growth dynamics of our main financial indicators is the result of our new development strategy. As a financial partner, our bank continues to actively support the real sector and contribute to the development of the economy of Azerbaijan in general. We left half of the year behind with positive results. By the end of 2024, we will launch several new digital branches in Baku and surrounding settlements, as well as in Shamakhi. At the same time, we will improve our digital services and provide banking solutions that will be innovative and facilitate the daily life of customers. I am sure that we will continue this strategy until the end of the year and conclude the current year with greater and brighter successes."





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