International Bank of Azerbaijan sees 68% profit growth in 1Q2026

The International Bank of Azerbaijan (ABB) completed the first quarter of 2026 with a net profit of 110.57 million manats (just over $65 million), marking a 68.4% increase year-on-year (YoY), Report informs, citing the bank.

According to the bank's financial statement, from January through March 2026, ABB's revenues amounted to 430.131 million manats (just over $253 million), up 28.4% YoY.

During the reporting period, the bank's expenses stood at 265.883 million manats (just over $156.4 million), up 24.4% YoY. Moreover, allocations to special reserves totaled 31.362 million manats (over $18.4 million), down 22.7% YoY, and profit tax payments reached 22.315 million manats (just over $13.1 million), up 47.4% YoY.

As of April 1, 2026, the ABB's total assets exceeded 14.31 billion manats (approximately $8.42 million), which is a 0.1% decrease compared to the same period last year. Of this, nearly 6.553 billion (over $3.85 billion) manats were net loans issued to customers. Over the past year, the bank's loan portfolio grew by 10%.

In 3 months, IBA's liabilities decreased by 1.5% YoY to just over 12.020 billion manats (just over $7.07 billion), including a deposit portfolio that fell by 11% YoY to roughly 9.010 billion manats (almost $5.3 billion), while equity capital increased by 7.9%YoY to just over 2.290 billion manats (approximately $1.35 billion).

ABB was established in 1992. Its charter capital amounts to just over 1.281 billion manats ($753.6 million). Of the bank's shares, 88.54% belong to Azerbaijan's Ministry of Finance, 3.64% to the State Service on Property Issues under the Ministry of Economy, 0.22% to Aqrarkredit CJSC non-bank credit organization, and 7.6% to individuals and legal entities.