Azerbaijan, Baku, Oct.1 / Trend N. Ismayilova /
Azerbaijan's PASHA Bank intends to increase its loan portfolio to 200 million manat by late 2010, PASHA Bank Board Chairman Farid Akhundov has said.
"The priority sectors in lending for the bank are transport, telecommunications, trade, services and the agro-sector. We are ahead of forecasts of the bank in terms of the loan portfolio and, as expected, by late 2010 we will reach 200 million manat," Akhundov said.
As of early 2010, the total loan portfolio increased by 2.6 times, reaching 122.08 million manat, while in 2008 this figure hit 46.225 million manat.
PASHA Bank was established in June 2007. The bank ranked second in the banking sector of Azerbaijan for its authorized capital worth 115.41 million manat,.
PASHA Bank's strategic task is to provide services in the corporate sector. The main goal of the bank is the qualitative development of business on priority areas, as well as to establish and develop long-term and stable relationships with their customers and employees.
On Sept. 30, official exchange rate was 0.8027 manat to $1.