Yelo Bank has announced its financial results for the third quarter of the current year, showcasing positive momentum across key metrics. In 2024, the Bank achieved a net profit of AZN 35 million, reflecting a more than two-fold increase compared to the same period last year.


Throughout the quarter, Yelo Bank remained actively engaged in providing financial resources to businesses. The Bank’s loan portfolio grew by AZN 183 million, marking an increase of over 25% from the same period last year, bringing the total loan portfolio to AZN 898 million. As always, lending to the real sector remains a priority for Yelo Bank. Business loans now constitute two-thirds of the loan portfolio, with the business loan segment reaching AZN 567 million—an increase of AZN 96 million, or more than 20% year-over-year. The microcredit portfolio also saw notable growth, increasing by 25% to AZN 328.6 million.


The consumer loan portfolio grew by 35.4% over the same period last year, amounting to AZN 336.4 million, with online channels contributing nearly 50% of this increase in consumer lending.


The total savings portfolio rose by AZN 200 million, up 31% compared to the same period last year, reaching AZN 841.5 million by the end of the third quarter. This growth highlights the continued attractiveness of Yelo Bank’s savings products to the public.


Interest income surged by over 39% year-over-year to reach AZN 113 million, while non-interest income more than tripled, totaling AZN 24 million.


The Bank’s total capital increased by 37%, amounting to AZN 140 million, which is AZN 90 million above regulatory requirements. The capital adequacy ratio stands at 13.5%, and the Tier 1 capital adequacy ratio at 7.7%, both exceeding the mandated standards. As of the end of the reporting period, Yelo Bank’s total assets amounted to AZN 1.177 billion.


Anar Hasanov, Chairman of the Board, remarked on the Bank’s progress towards its strategic objectives: "These results reflect not only our commitment to enhancing the quality of our services and products but also the trust and confidence that our customers have in Yelo Bank. Our financial results at the end of the third quarter demonstrate that we are achieving several critical goals of our new strategic phase. We will continue to advance the digitalization of our services, products, and branches throughout the year. Our goal is to elevate our operations to a more sustainable level by adhering to ESG principles, which are among our primary strategic priorities. I am confident that 2024 will be a milestone year for Yelo Bank as we pursue sustainable development.”


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