AccessBank, a leader in micro, small, and medium business lending, has announced its financial results for the year 2024.

For more details, please visit: https://bit.ly/423QT61

AccessBank generated 54.1 million manats of net income in 2024, compared to 39.8 million manats in 2023. As a result, capital position was strengthened, and total regulatory increased by 29.0%, or 41.5 million manats, and accounted to 185.0 million manats, which is 3.7 times higher than the regulatory minimum. Key drivers of the growth were expansion of the loan portfolio, particularly in business lending, increased depositor trust in the bank, and borrowings from international financial institutions. Below are the financial highlights for the past year:

•    Total loan portfolio increased by 13.6%, or 137.8 million manats, and accounted to 1,151.5 million manats by the end of the reporting period.
•    Share of business loans in total portfolio is 78.3%with amount of 901.9 million manats. During the reporting period, business loan portfolio increased by 15.6%, or 121.8 million manats. Regional lending outside of Baku accounts for 59.5% of total business loans issued during the year.
•    Deposit portfolio exceeds 1 billion manats, and total outstanding volume was 1,026.5 million manats by the end of 2024.
•    During 2024, AccessBank successfully attracted financing from international financial institutions with the total volume of 73.1 million manats.
•    Total assets of the Bank increased to 1.5 billion manats, reflecting a 6.7% growth compared to 2023.
•    Interest income increased by 14.9% compared to 2023, reaching 224.4 million manats. As a result net interest income increased by 18.2 million manats year-over-year, reaching 140.2 million manats.
•    Non-interest income amounted to 18.1 million manats.
•    Net operating income for 2024 accounted for 69.1 million manats, compared to 56.3 million manats in 2023.
•    The bank’s liquidity position remains stable, with a liquidity ratio of 70.6%, which is 2.4 times higher than the minimum requirement set by the Central Bank of Azerbaijan Republic (CBAR).