BAKU, Azerbaijan, November 22. The financial performance of PASHA Bank Georgia JSC on the first half 2022 results has fluctuated, Deputy CEO at PASHA Bank Bahruz Naghiyev said at a press conference on the first half 2022 results on November 22, Trend reports.
In the reporting period, PASHA Bank Georgia's total assets equaled 267.809 million manat ($157.5 million), up by 9.4 percent compared to 2021.
"From January through June 2022, consumer loans amounted to 195.37 million manat ($114.9 million), increasing by 15.2 percent year over year. The subsidiary bank's total capital grew by 32 percent and totaled 57.289 million manat ($33.7 million). Meantime, net fee and commission income made up 180,000 manat ($105,886), which was 78.2 percent more than in 2021," Naghiyev said.
According to him, net profit on foreign exchange transactions reached 8.17 million manat, $4.8 million (growth of 37.4 percent), while operating profit amounted to 9.315 million manat ($5.47 million), (growth of 27.5 percent). Total operating expenses declined by over 15 times, down to 9.315 million manat ($5.47 million). The bank's losses during this period equaled 3.623 million manat ($2.1 million).
PASHA Bank's assets exceeded 7.434 billion manat, $4.37 billion in the first half of 2022 (growth of 15.7 percent).