BAKU, Azerbaijan, November 22. Financial indicators of Pasha Yatirim Bankasi A.S. (Turkish subsidiary of Azerbaijan’s PASHA Bank) in the first half of 2022 changed in different directions, Deputy Board Chairman of PASHA Bank Bahruz Naghiyev said on November 22 at a press conference on the results of the first half of this year, Trend reports.
According to Naghiyev, during the reporting period, the subsidiary bank increased its total assets by 7.6 percent - up to 509.27 million manat ($299.57) compared to 2021.
"The volume of loans issued to customers from January through June 2022 decreased by 3.7 percent and amounted to 310.18 million manat ($182.46 million). The total capital of the subsidiary bank, having increased by 7.7 percent, amounted to 86.8 million manat ($51 million),” he noted.
“Net income from fees and commissions amounted to 2.9 million manat ($1.7 million), which is almost three times more than in 2021. Net profit on foreign exchange transactions decreased by 157.3 percent, to 461,000 manat ($271,180),” the bank’s representative also said.
“Operating profit amounted to almost 13,467 manat ($7,920), which is 3.6 percent more than in 2021. The total operating expenses decreased by 43.6 percent - up to 2.18 million manat ($1.28 million). The bank's net profit lowered by more than three times, amounting to 11.5 million manat ($6.7 million)," Naghiyev added.
The assets of PASHA Bank in the first half of 2022 amounted to over 7.4 billion manat or $4.3 billion (an increase of 15.7 percent).