Azerbaijani PASHA Bank’s Georgian subsidiary increases assets

Baku, Azerbaijan, Apr. 23

By Anvar Mammadov - Trend:

The assets of PASHA Bank Georgia (Azerbaijani PASHA Bank's subsidiary in Georgia) amounted to 267.68 million Georgian laris in the first quarter of 2016 that is by over 32 percent more than in the same period of 2015, said the bank's report on the results of 1Q2016.

The major part of the bank's assets (59.8 percent or 160.14 million laris) was placed in Georgia's national currency, and the remaining part (40.2 percent, or 107.54 million laris) - in free currency.

PASHA Bank Georgia's cash assets and its equivalents totaled 732,730 laris in 1Q2016, which is twice as much as in the same period of 2015. The major part of the assets - 41.8 percent, or 111.97 million laris accounted for investment securities (increase by 36.6 percent during a year).

The bank's loan portfolio increased by 41.2 percent and amounted to 97.65 million laris in 1Q2016 compared to the same period of 2015.

PASHA Bank Georgia's total commitments increased by 51.9 percent (up to 171.99 million laris) during the 1Q2016 versus 1Q2015.

The authorized capital of PASHA Bank Georgia has remained unchanged - 103 million laris - at the end of March 2016.

The bank's total capital increased by almost 7 percent and amounted to about 95.7 million laris (including 7.3 million laris of undistributed loss). This figure was equal to 89.5 million laris at the end of the first quarter of 2015.

PASHA Bank Georgia operates since February 2013.

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Follow the author on Twitter: @Anvar_Mammadov

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