Bank of Baku OJSC posted net profit of 27.045 million manats in the January-September 2026 period, up 12.6% from the same period last year. The bank’s assets grew 35.9% from the start of the year to 1.566 billion manats.
According to financial results released by Bank of Baku OJSC as of September 30, 2026, the bank’s pre-tax profit grew from 32.18 million manats to 34.944 million manats. Profit tax payable for the period fell from 8.159 million manats to 7.899 million manats.
Bank of Baku’s interest income climbed 27% to 164.093 million manats from 129.193 million manats. Most of that growth came from 150.484 million manats in income generated by loans to customers. At the same time, interest expenses rose 43.8% to 73.427 million manats from 51.044 million manats, driven mainly by a 40.9% increase in interest payments on deposits. As a result, the bank’s net interest income rose 16.2% to 90.808 million manats from 78.149 million manats.
Commission and other non-interest income rose to 18.283 million manats from 15.124 million manats. Payroll and compensation costs increased 29.5% to 33.906 million manats from 26.178 million manats, while total non-interest expenses reached 72.623 million manats.
Loan and deposit portfolios shift
Total loans to customers expanded 28.7% to 1.171988 billion manats from 910.697 million manats. Consumer loans account for 77.7% of the portfolio, rising to 911.041 million manats from 699.931 million manats. Business loans grew from 148.755 million manats to 188.699 million manats, while mortgage and real estate loans rose from 62.011 million manats to 72.249 million manats.
Loan loss provisions increased to 55.764 million manats from 49.27 million manats, though the ratio of these provisions to the total loan portfolio fell from 5.4% to 4.8%.
Total deposits attracted by the bank rose 43.1% to 1.05909 billion manats from 740.257 million manats. Retail deposits increased from 669.36 million manats to 913.942 million manats, while corporate deposits nearly doubled, rising about 104.7% from 70.896 million manats to 145.148 million manats. Retail funds make up 86.3% of the total deposit portfolio.
Capital ratios above regulatory minimums
Bank of Baku’s balance-sheet capital rose from 175.771 million manats to 193.587 million manats. As of the reporting date, the Tier 1 capital adequacy ratio stood at 10.25%, the total capital adequacy ratio at 12.73%, and the leverage ratio at 9.43%. These indicators exceeded the minimum requirements set for banks other than the additional buffer applied to systemically important banks.
The bank’s total liabilities grew 40.5% to 1.372728 billion manats from 976.705 million manats. Meanwhile, subordinated debt obligations fell to zero from 16.725 million manats.
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