Baku, Azerbaijan, Aug.5
By Anvar Mammadov - Trend:
Deposits of the Georgian population in PASHA Bank Georgia (a subsidiary of Azerbaijani PASHA Bank) for the second quarter of 2015 amounted to 6.86 million lari, said the report of the bank posted on its official website.
The report said that during this period, contributions to the bank increased by 3.7 times, while this figure amounted to 1.87 million lari at the end of the second quarter of 2014.
Overall, total liabilities of the bank in the reporting period increased by nearly 4.5 times and amounted to 161.61 million lari.
The assets of PASHA Bank Georgia (a subsidiary of PASHA Bank Azerbaijan) amounted to 251.15 million lari in the second quarter of 2015.
The bank's assets increased by nearly 2 times over the year. As of the end of the first quarter of last year, the figure was 120.96 million lari. About 59.4 percent of the bank's assets were placed in the national currency, and the rest (101.95 million lari) in freely convertible currency.
Around 649,520 lari have been accumulated in cash and cash equivalents, which is 2.7 times more than in the same period of 2014. The main part of assets, 45.8 percent or 115.1 million lari, accounted for loan portfolio (3.5 times growth for the year).
Around 60.6 percent of the issued loans are loans in national currency (69.7 million lari). The loans worth 45.4 million lari were issued in freely convertible currency.
As of late June 2015, the authorized capital of PASHA Bank Georgia remained at the level of 103 million lari. The total capital of the bank amounted to 89.5 million lari (including 13.5 million lari of the unallocated loss). Its volume decreased by nearly 2.3 percent during a year. For comparison, as of the end of the second quarter of 2014, the figure was 91.6 million lari.
PashaBank Georgia started its activity in February 2013.
PashaBank was established in June 2007. It operates under license No 250 of Central Bank of Azerbaijan (CBA) dated November 28, 2007. The main objectives of the bank are the strengthening of leadership in the segment of corporate customer service, high-quality business growth in the priority areas identified by the strategy, and the creation and continued development of long-term and trusting relationships.
PashaBank, along with Pasha Insurance, Pasha Life, Pasha Travel and Pasha Construction, is part of the Pasha Holding, which is actually an investment company, rather than a classic holding company. The structure of Pasha Group also includes Kapital Bank, where the holding company owns 99.75 percent of the shares.
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