PASHA Bank Georgia’s assets double in 3rd quarter

Baku, Azerbaijan, Nov. 3

By Azad Hasanli - Trend:

The assets of PASHA Bank Georgia, a subsidiary of PASHA Bank Azerbaijan, reached 283.7 million lari in the third quarter of 2015, which is more than twice as high as in the same period in 2014, the National Bank of Georgia told Trend Nov. 3.

Some 64.4 percent, representing 182.6 million lari of the bank's assets, were placed in the national currency, while the remaining 35.65 percent, 101.15 million lari, was placed in freely convertible currencies.

Some 632,490 lari have been accumulated in cash and cash equivalents, which is 17.5 percent more than in the same period in 2014. The largest part of the assets, 34.9 percent or 98.96 million lari, were placed in investment securities, representing a growth of 2.5 times for the year.

About 68.3 percent of the loans were issued in the national currency, at 67.6 million lari. Also, loans, worth 31.3 million lari, were issued in freely convertible currencies.

The growth of the bank's assets occurred against the backdrop of increasing liabilities. Thus, during the reporting period, the bank's total liabilities increased by 4.76 times - up to 189.67 million lari compared to the end of the third quarter of 2014. The total volume of liabilities in foreign currency reached 54.2 percent, or 102.86 million lari, and was reported at 45.7 percent, or 86.8 million lari, in national currency.

Meanwhile, deposits by the Georgian population in PASHA Bank Georgia, a subsidiary of Azerbaijani PASHA Bank, for the reporting period, amounted to 5.56 million lari, with 4.9 million lari in current deposits, and 629,300 lari in term deposits, which is 8.85 percent less than during the same period last year.

As of late September 2015, the authorized capital of PASHA Bank Georgia remained at 103 million lari. The total capital of the bank amounted to 94.1 million lari, including 8.9 million lari of the unallocated loss. Its volume decreased by 2.1 percent during the year. For comparison, as of the end of the third quarter of 2014, the figure was 92.16 million lari.

PashaBank Georgia began operations 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 Pasha Holding, which is an investment company, rather than a classic holding company. The structure of Pasha Group also includes Kapital Bank, in which the holding company owns 99.75 percent of its shares.

Israel to allow vaccinated tourists in starting late May
Israel to allow vaccinated tourists in starting late May
Sudan due to send first delegation to Israel next week
Sudan due to send first delegation to Israel next week
On Independence Day eve Israel's population over 9.3m
On Independence Day eve Israel's population over 9.3m
Loading Bars
Latest
Israel to allow vaccinated tourists in starting late May
Biden confirms invitation to Putin to take part in climate summit
Presidents of Azerbaijan, Belarus have informal meeting
IMF unveils forecast on Azerbaijan's oil export for 2021-2022
Azerbaijani FM, Romanian ambassador stress high level of development of bilateral political relations (PHOTO)
Special equipment of Belarus assembled in Azerbaijan may be exported to Turkey
Azerbaijan's Foreign Ministry responds to Armenia's statement on War Trophy Park
President of Belarus pays working visit to Azerbaijan (PHOTO)
Moscow, Tehran attach great importance to North-South Corridor – Russian FM
Azerbaijani president gives weighty answer to Armenia’s disinformation campaign - Official (VIDEO)
Belarus reveals plans for oil purchases from Azerbaijan
Kazakhstan’s FlyArystan launching direct flights to Georgia
Iran's Energy Exchange announces products to be on sale on April 14
International Bank of Azerbaijan opens tender to buy printed materials
Azerbaijan's Aghdam needs to be fully rebuilt - German historian (VIDEO)
Azerbaijan's PM meets with BP's regional president
Ukraine may take part in restoration of Azerbaijan's liberated lands
Azerbaijani Finance Ministry places short-term bonds on auction
Iron ore concentrate production by major Iranian companies increases
President Ilham Aliyev: Pakistan was among countries that openly supported Azerbaijan from first days of confrontation
Iran’s Bahar Azadi gold coin price again falling
Sudan due to send first delegation to Israel next week
Liabilities of Bank Melli Iran’s Baku branch increase
Armenia obligated under int'l law to provide mine maps to Azerbaijan - Matthew Bryza
Footage from Azerbaijani Jabrayil's Sadi village (VIDEO)
Azerbaijan, Ukraine discuss full resumption of mutual flights
Oil exports via Barents Sea in Lukoil system increased
Hydrometeorology in Azerbaijan needs young experts for technologies - ministry
Azerbaijan shares latest data on mine clearance work carried out on liberated lands
Co-op between Iran, Russia to be effective in activating nuclear deal – Rouhani
2021 demand for OPEC crude to be higher than in 2020
Assets of Iranian Bank Melli's branch in Azerbaijan increase
On Independence Day eve Israel's population over 9.3m
Iran still waiting for S.Korea to provide solution, release its blocked assets
Azerbaijan issues data on number of COVID-19 vaccinated citizens
Azerbaijan confirms 2,457 more COVID-19 cases, 2,002 recoveries
OPEC revises up forecasts for Azerbaijan’s 2021 liquids supply
Rosatom can take part in developing green energy in Azerbaijan - expert
Repairing of last well in Iran's Naft Shahr field launched
Iran in favor of strengthening relations with Russia – President Rouhani
Azerbaijan Railways builds co-op on transiting additional goods
IMF talks forecast of money supply growth in Azerbaijan for 2021-2022
European Hydrogen Backbone’s updated cost revealed
IMF predicts growth for Azerbaijan's oil, non-oil GDP
Cargo movements in Iran’s Qeshm port down
Azerbaijan expects tourism sector to recover by summer
Plan on budget revenues surpassed in Kazakhstan
Scotland to ease some COVID-19 restrictions early
Around 70% of European infrastructure to start transporting hydrogen
U.S. will base 500 additional troops in Germany
Russia documents 8,173 coronavirus cases in past day, lowest figure since September 28
Kazakhstan names value of payments of compulsory vehicle insurance
Iran's mobile phone imports increase
Azerbaijani president signs order on hosting European Football Championship matches in Baku
Kazakhstan drafts pricing rules for exported crude oil, gas condensate
Retail trade indicators decrease in Kazakhstan
Kazakh Gas Refinery opens tender to buy spares
Kazakhstan records decrease in oil output
Belarusian IT company keen to expand its activities in Azerbaijan's transport sector
Iran’s Jam Petrochemical Company announces its production plan
Uzbekistan building modern wastewater treatment facility at Uzbekneftegaz GTL plant
Kazakh Gas Refinery opens tender to buy engines
Russian, Azerbaijani military discuss Iskander-M missile debris in Karabakh region - Russian official
Greece can take slightly more than 1 mcm/d via TAP
President Ilham Aliyev: Liberation of territories will be additional opportunities
President Ilham Aliyev: Armenians did it deliberately in order to erase legacy of Azerbaijani culture in order to erase these territories from our memories
Together with Russian president, we discussed issue about Iskander-M missile – Azerbaijani president
TAP supplies to Greece cause contraction in LNG imports
Kazakhstan attracts investments to develop national parks in Almaty region
European Commission makes statement on TAP
Russia’s Federal Air Transport Agency allows flights from Irkutsk to 3 countries
President Ilham Aliyev: I had a strong feeling during negotiations that Armenia doesn’t want a solution
President Ilham Aliyev: I think we need to be more active in order to try to build bridges
ADB focuses on renewable energy projects in Georgia
US eyes to continue negotiations on direct flights with Georgia
Bank of Georgia discusses revised outlook for country’s economic growth in 2021
Anabechdi company plans to produce textile in Georgia
Georgia to receive significant funds from IMF
Azerbaijan reveals 2M2021 data lending to energy, chemistry, natural resources sector
Georgian E-Space company looks to export its software
Death toll from coronavirus pandemic in Iran exceeds 65,000
Amount of Georgian bonds held by foreign investors up
JSC "Georgian Railway" reveals financial indicators for 2020
Uzbekistan, Russia discussing joint projects on aircraft construction
Iran's propane gas exports shrink
Armenia committed ecological terror during occupation of Azerbaijani lands - Ecology ministry
India, EU reiterate commitment to democracy, freedom and respect for human rights
Bangladesh: Multinational military exercise 'Shantir Ogroshena 2021' concludes
Turkey’s export of grains, legumes to Iran jumps
PM Modi to inaugurate virtual Raisina Dialogue, 50 countries to participate
US to support Georgian farmers, small business owners through agrotourism
External merchandise trade down in Georgia
New buildings of Turkmen Turkmenbasy, Senagat banks opened
Turkey's 1Q2021 export of chemical products sees increase
Iran's polyethylene exports rise
Georgia assists new ferroalloy enterprise in Terjola through "Produce in Georgia" program
Azerbaijan issues data on compulsory non-life insurance for Feb.2021
Foreign currency demand of Azerbaijani banks rebounds
Azerbaijan's revenues from customs duties increase
Azerbaijan's Feb.2021 lending to agriculture grows
All news