BAKU, Azerbaijan, May 29. Past year was a record-breaking year for PASHA Bank, Chairman of the Executive Board and Chief Executive Officer at PASHA Bank Javid Gouliyev said during today's press conference dedicated to the bank's performance results for 2023 in Baku, Trend reports.
"We have seen especially record figures in our loan portfolio, income, and profit for the year," he explained.
According to Gouliyev, several key indicators showed significant growth from 2021 to 2023.
"Assets increased by 56.3 percent, the loan portfolio grew by 46.5 percent, the SME lending portfolio increased by 102.2 percent, client accounts grew by 76.3 percent, total capital increased by 104.4 percent, profit rose by 83.7 percent, and income from fees and commissions increased by 78.1 percent.
Moreover, the bank achieved the following results: the SME segment issued 298 million manat ($175.29 million) through digital models; 13.8 million manat ($8.12 million) of loans were provided to clients through the Digital Factoring Platform; $50.8 million was attracted in subordinated loans; and the total investment in cybersecurity amounted to 6.5 million manat ($3.8 million)," he added.
To note, PASHA Bank continues to strengthen its position in the corporate banking sector and expand cooperation with leading banks, including establishing direct relationships with correspondent accounts of US banks.
Meanwhile, at the end of 2023, PASHA Bank's assets stood at 8.622 billion manat or $5.07 billion (2.2 percent growth), with the loan portfolio at 2.958 billion manat or $1.7 billion (4.7 percent growth), liabilities at 7.809 billion manat or $4.59 billion (35.7 percent growth), and the bank's net profit reached 271.551 million manat or $159.7 million (3.18 times growth).
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