Baku, Azerbaijan, May 21
By Kheyraddin Nasirzade - Trend:
Until the end of the year, assets of Azerbaijan’s Pasha Bank are expected to increase by 7-10 percent, and the loan portfolio by 30 percent, Taleh Kazimov, chairman of the bank’s board, said at a press conference on the results of 2018, Trend reports.
By the end of the year, the bank’s loan portfolio will be about 1.7 billion manats, and by 2020 - 2 billion manats, he said.
In accordance with the consolidated report of the bank, total assets of the bank as of December 31, 2018 amounted to 5.2 billion manats, including assets of subsidiary banks in Georgia and Turkey, of which the share of assets of Pasha Bank Azerbaijan amounted to 4.7 billion manats, he added.
Kazimov noted that the bank’s own assets have already reached 4.9 billion manats.
This is while chief financial administrator and the bank’s board member Bahruz Nagiyev said that by the end of the year, the bank plans to increase the value of assets to 5 billion manats.
The main part of the bank’s liabilities is related to legal entities whose accounts are opened in manats, he noted.
Pasha Bank OJSC was established in June 2007 and operates on the basis of license No. 250 dated November 28, 2007, issued by the Central Bank of Azerbaijan.
Pasha Bank OJSC is a part of Pasha Holding, which is an investment company. Pasha Group also includes Kapital Bank, where the holding owns 99.75 percent of the shares.
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