BAKU, Azerbaijan, June 29. Financial indicators of PASHA Bank Georgia changed in different directions at the end of 2021, Chief Financial Officer, Executive Board Member of PASHA Bank Bahruz Naghiyev said at a conference on conference on ‘Financial indicators of PASHA Bank for the first half of the year’, Trend reports.
According to him, PASHA Bank Georgia reduced total assets by 0.4 percent (up to 244.8 million manat or $144 million) in 2021 compared to 2020.
“The volume of loans issued to customers decreased by 3.3 percent in 2021 compared to 2020 and amounted to 169.5 million manat ($99.7 million). The total capital of the subsidiary bank increased by 1.1 percent and amounted to 43.4 million manat ($25.5),” Nagiyev said.
“Net income from fees and commissions amounted to 30,000 manat ($17,600), which is 93.4 percent less than in 2020. Net profit on foreign exchange transactions decreased by 53.1 percent - up to 1.3 million manat ($764,700),” he noted.
“Operating profit amounted to 11.3 million manat ($6.6 million), which is 16.1 percent less than in 2020. The total operating expenses increased by 12.3 percent - up to 15,218 manat ($8,951). The bank's losses amounted to 2.1 million manat ($1.2 million) in 2021," Nagiyev added.
Assets of Azerbaijan’s PASHA Bank amounted to about 6.4 billion manat ($3.7 billion) at the end of the 2021 financial year.