Four major Azerbaijani banks, AFB Bank, Ziraat Bank Azerbaycan, Yapi Kredi Bank Azerbaijan, and VTB Bank (Azerbaijan), showed mixed results in the first nine months of 2023.

AFB Bank's assets grew by 7.9%, but its loan portfolio decreased by 0.7% and its net profit shrank by 54.5%. Ziraat Bank Azerbaycan's assets expanded by 34.6%, its loan portfolio increased by 12.7%, and its net profit rose by 3.8%. Yapi Kredi Bank Azerbaijan's assets contracted by 4.4%, but its loan portfolio grew by 8.6% and its net profit increased by 2570%. VTB Bank (Azerbaijan)'s assets decreased by 3.0%, but its loan portfolio rose by 15.3% and its net profit slipped by 9.7%. The change in net profit for Yapi Kredi Bank Azerbaijan is very high because the bank's net profit was very low in the same period in 2022.

Detailed information can be found in the following table:

AFB Bank received a banking licence on November 28, 2008. The bank's shareholders are three individuals. Ziraat Bank Azerbaijan is a daughter project of Ziraat Bank of Turkey, licensed in 2014. Yapi Kredi Bank Azerbaijan was established in 1998. The bank's shareholders are three Turkish companies. In November 2008, the Central Bank of Azerbaijan approved the acquisition by Russian Vneshtorgbank (VTB) of 51% of the shares of Azerbaijani AF-Bank. In the shareholder structure of VTB Bank (Azerbaijan), 99.99% of shares are currently owned by PJSC VTB Bank, and 0.01% are owned by individuals.