Azerbaijani banks increase assets 7% in H1, net profits fall 6%

BAKU. July 25 (Interfax) - The collective assets of Azerbaijan's banks had an estimated value of 56.73 billion manat or $33.37 billion at the current exchange rate, increasing 7% since the end of 2024, the Central Bank of Azerbaijan (CBA) reported.

The banks' collective balance in CBA correspondent accounts shrunk 4.6% to 5.93 billion manat in the first half. Their loan portfolio grew 3.6% to 28.47 billion manat, and liabilities increased 7.3% to 49.79 billion manat. The deposit portfolio totaled 37.35 billion manat, down 0.9%, including retail deposits of 15.06 billion manat, up 5.3%.

Capitalization of banks totaled 6.95 billion manat in H1 2025, an increase of 5%.

The CBA said that the collective net profit of the country's banks had decreased 6.1% year-on-year to 576.6 million manat in H1 2025 and income tax had grown 8% to 134.1 million manat.

As of June 30, 2025, Azerbaijan had 22 licensed banks, including nine with foreign capital.