More than 10 million profit from Yelo Bank

Yelo Bank has published its financial report for the second quarter of 2021.

As in the previous quarter, this quarter saw a positive trend in the Bank's key financial indicators, e-huquq.az reports.Thus, the Bank ended the reporting period with a net profit of 10 million manat.At the same time, total assets increased by 47.5 million manat compared to the end of last year and reached 438.6 million manat.

There is also a significant increase in the bank's loan portfolio.Thus, the loan portfolio increased by 18.3% compared to the end of last year and reached 364.8 million manat. During this period, 96.2 million manat was transferred on business loans and 56.5 million manat on consumer loans, which constitutes a large part of the portfolio.The Bank's deposit portfolio also increased by 8% to 253.8 million manat.
The bank's net interest income for the reporting period amounted to 21.3 million manat.This is an increase of 20% compared to the same period last year. At present, the Bank's total capital is 63.86 million manat, which is 10 million manat more than at the beginning of the year, and 13.86 million manat more than the regulatory requirement.

Chairman of the Board of Yelo Bank Anar Hasanov commented on the financial results of the second quarter: "We are moving forward with the goals we have set for 2021.It is good to see the results of our new strategy in a short time.Of course, these results would not have been possible without strong team and the increased confidence of our customers.During the general recovery of the country's economy, we focused on financing small businesses.In order to be able to deliver our services to more customers, we opened new branches in the first two quarters and plan to open several more by the end of the year.In parallel, we are developing our digital solutions.Our main goal is for our customers to receive banking services at any time and in the most convenient form.I believe we will achieve greater results by the end of the year".