Yelo Bank ended last year with record financial results!

Yelo Bank announced its financial results for the last quarter of 2024. A significant increase is observed in the main financial indicators of the bank. In particular, a record increase in net profit was recorded. Thus, the net profit of Yelo Bank by the end of 2024 exceeded 43 million manats, which means a more than two-fold increase compared to the same period of the previous year. As for other financial results:

• The bank's loan portfolio has grown: compared to the end of 2023, it reached 935 million manats, with an increase of 22%.
  
  

• An important part of the increase was business loans: the business loan portfolio increased by 21.5% to 587 million manats.
  
  

• The real sector has always been among the priorities: during the year, the Bank allocated 364 million manats to micro-businesses. By the end of the year, the volume of the microcredit portfolio was 347 million manats, which is 24.6% more than in the same period of 2023.
  
  

• The portfolio of consumer loans also increased significantly: more than 32,000 consumer loans were granted during the year. As a result, the volume of the portfolio in this direction reached 347 million manats, with an increase of 23.5%. 38% of these sales and 50% of portfolio growth were made through online channels.
  
  

• The Bank's deposit offers continued to be attractive: the volume of term deposits of individuals increased by 37% during the year and reached 652 million manats. This increase shows that the bank has further strengthened its position as a reliable financial partner among customers.
  
  

• Interest and non-interest income also increased: during the year, the Bank's interest income increased by 34%, amounting to 151 million manats. Non-interest income reached 32 million manats.
  
  

• The bank's capital position has significantly strengthened: in the reporting period, the total capital is 148.7 million manats, which is 36% more than the same period of the previous year. The total capital adequacy ratio is 13.15%, and the tier-one capital adequacy ratio is 7.05%, exceeding the required norm for both indicators. By the end of 2024, the Bank's assets amounted to 1,280 million manats.

Yelo Bank plans to continue its dynamic development in 2025. The bank will implement a number of projects to open new branches, expand digital services, and modernize existing services. In these innovations, the ESG approach, sustainability principles, and customer-centric steps will prevail. Yelo Bank, which aims to expand its service network, especially in the regions, will continue to contribute to financial inclusion and socio-economic development.

Need more information about our banking services? Then call 981 or visit our Facebook, Instagram, Whatsapp, or yelo.az accounts.

Yelo Bank – Brighter Banking!