Bank VTB Azerbaijan (OJSC) has published its financial results for the first half of 2026, showing a decline in profitability and attracted funds.
In the reporting period, the bank's net profit fell by 7.8% year-on-year to 5.826 million manats from 6.319 million manats a year earlier. The decline was driven by an 8.1% drop in revenues (to 26.053 million manats) against a more moderate 4% decrease in expenses (to 21.393 million manats).
Additionally, the bank's liabilities decreased by 3.7% (to 220.669 million manats), with the deposit portfolio falling by 13.3% to 121.778 million manats. At the same time, assets remained virtually unchanged (-0.1%) at 336.851 million manats, of which 247.35 million manats were net loans to customers.
The main positive trends of the half-year were a 19.8% increase in the loan portfolio year-on-year and a 7.7% rise in balance sheet capital to 116.164 million manats.