Ziraat Bank Azerbaijan doubles net profit 

The net profit of Ziraat Bank Azerbaijan in January-September 2021 doubled to AZN 3.899 million, Report informs, citing the bank.

In the reporting period, the revenues went up 35.1% to AZN 23.434 million, expenditures surged 29.8% to AZN 15.138 million, allocations for special reserves jumped 17.9% to AZN 4.056 million, profit tax increased by 12.5% to AZN 341,000.

As of October 1, 2021, the assets stood at AZN 340.848 million, up 21.5% from the previous year. Of this, AZN 183.78 million was loans to customers. The loan portfolio extended by 27.9% year-on-year.

Liabilities rose by 26.3% to AZN 261.575 million, deposit portfolio soared 32.8% to AZN 179.472 million, net worth climbed 8.1% to settle at AZN 79.273 million.

Ziraat Bank Azerbaijan was established in 2014. The authorized capital is AZN 50 million. Ziraat Bank Azerbaijan`s shareholders are Turkey’s Ziraat Bank (99,98%), Ziraat Insurance (0,01%) and Ziraat Yatırım Menkul Değerler (0,01%).