Today, Unibank is one of the most active banks in providing financial resources to the real sector in the country. During the second quarter of 2024, the Bank continued active lending and increased its contribution to the country’s economy.
Compared to the results of the second quarter of 2023, the volume of Unibank’s total loan portfolio increased by 92 million manats in the corresponding period of the current year. Business loans have a special share in this growth. In accordance with the new strategic goals of the bank, increasing the share of loans granted to the real sector in the loan portfolio is among the priorities of “Unibank”. Since the beginning of the year, the volume of business loans continues to expand within the total loan portfolio. Compared to the end of the second quarter of 2023, the share of business loans in the total loan portfolio of the Bank increased by 11.5% as of June 30, 2024.
In general, the business credit portfolio increased compared to the corresponding period of last year and exceeded 378 million manats. Working loans given to SMEs and micro-entrepreneurs with bank funds have increased by 32% in the last year.
Unibank contributes to the inclusive development of the country by increasing credit availability to micro-entrepreneurs in various sectors in regions and remote villages. It should be noted that 80% of the microloans provided by the bank go to the regions.
Activity in lending to the real sector was also reflected in the statistics of business customers choosing the Bank, and in the increase in the number of active business customers. Compared to the same period last year, there was a 25% increase in the number of entrepreneurs who chose Unibank, and a 23% increase in the number of legal entities. Over the past 1 year, a 53% increase in online accounts opened by entrepreneurs has been recorded in Unibank.
Unibank continues to support women entrepreneurs as part of its corporate social responsibility strategy. As a result of special attention to this field, the number of women entrepreneurs provided with financial resources by the bank exceeded 5 thousand by the end of the second quarter.
Farid Abushov, Chairman of the Board of Directors of Unibank KB OJSC He said that in the first half of 2024, the first year of the new strategic period for the bank, a number of goals were achieved: ”This is not only the result of increasing the quantity and quality, but also the trust and confidence of the customers in the bank. Analyzing the results of the first half of this year, we see that we have already reached part of the goals we set for the new strategic period.. The continuation of the process of digitalization of the bank’s services and products during this year has shown itself in the growth of the customer base. Both in the example of LeoBank and the implementation of microloans allocation using a tablet method, has enabled more people to actively interact with the bank, from simple transactions to complex financial products, from demographic groups previously excluded from banking services. These steps are in line with ESI (Environmental, Social and Corporate Governance) standards, which are key priorities of our strategic vision. IWe believe that 2024 will be one of the important years for our Bank as we move towards our new goals.”.
The first half of the year was marked by a significant increase in non-cash turnover. During the reporting period, the volume of non-cash transactions increased by 41% and reached 5.6 billion manats. Compared to the same period of 2023, in the second quarter of this year, the number of cashless transactions on Unibank cards increased by 51% and exceeded 165 million.
During the past period, the deposit portfolio of “Unibank” has also grown. The total deposit portfolio is 140 million compared to the same period last year increasing manat, at the end of the second quarter of this year 1 billion 245 million manats.
An increase was also recorded in the main financial indicators during the reporting period. As of June 30, 2024, the Bank’s operating profit was 35 million manats. This means an increase of 22% compared to the same period last year. During the reporting period, the total income of the Bank increased by 20 million manats. By the end of the second quarter, interest and non-interest income increased to 168 million manats. Against the background of these increases, the bank’s net profit increased by 25% compared to the same period last year and reached 11.5 million manats.
During the period, the Bank’s capital position has significantly strengthened. During the reporting period, the total capital of the Bank increased by more than 20% compared to the 2nd quarter of last year and amounted to 168 million manats. In the first half of 2024, the Bank increased its capital adequacy. Thus, by the end of the second quarter of the year, the bank’s capital adequacy ratio increased and exceeded 12.8%. By the end of the reporting period, the bank’s assets increased to 1 billion 683 million was manat.
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