Xalq Bank announced the results of the 3rd quarter of 2024

According to the financial results of the 3rd quarter of 2024, Xalq Bank, increased its asset size to AZN 2.942 billion. At the same time, the volume of the loan portfolio (including other financial institutions) increased by 5.1% compared to the same period of the previous year and reached AZN 1.982 billion. Total deposit portfolio of Xalq Bank was about AZN 1.981 billion.

By the end of the third quarter of 2024, Xalq Bank reported a net profit of AZN 54.0 million, the total capital is AZN 500.4 mln. By the end of the reporting period, the Bank's interest income increased by 17.3% and reached AZN 136.5 million, and non-interest income increased by 56.8%, and reached to 32.1 million manats. compared to the same period of the previous year.

Thus, according to the results of the third quarter of 2024, Xalq Bank is again among the three largest private banks of the country according to the main financial indicators: assets, loan portfolio and volume of deposits.

Also, the international rating agency Moody's Ratings, having analyzed the results of Xalg Bank's activities for 2023, raised the Baseline Credit Assessments to b1. The rating agency raised the Bank's long-term deposit rating in local and foreign currencies to "Ba3", short-term and long-term counterparty risk rating (CR Assessments) in local and foreign currencies to Ba2/NP, confirming the Bank's rating outlook as "stable".

It should be noted that Xalq Bank, one of the country's leading banks, is successfully implementing its Development Strategy for 2024-2026. Over the next 3 years, the Bank aims for healthy and sustainable growth in the market by being a customer-oriented, universal and technological bank that applies a high standard of corporate governance. As a result of the dynamic development of the Bank and the effective use of share capital, as well as in order to expand financial opportunities, the General Meeting of Shareholders decided to increase the authorized capital of the Bank to 415 million manats.