Azerbaijan, Baku, April 12 / Trend N. Ismayilova /
PASHA Bank has increased its charter capital by further 8 million manat on 30 March 2011, thus reaching 123.4 million manat, the bank said.
The charter capital has been increased by partial capitalisation of the profit PASHA bank has made in 2010.
The capital increase provides the Bank with the better opportunities in financing largescale projects. Established in 2007 PASHA Bank remains the second largest Bank in Azerbaijan in terms of charter capital volume.
In March 2011 Ernst and Young independent auditors have issued their opinion on the financial statement of the Bank for 2010. The bank assets have reached 512,304 manat
($642,065), which is 67 percent more than that of the previous year (306,433 manat / $384,049). About 37 percent of the Bank's assets comprised the loans to the Bank's customers, 31percent -securities portfolio, 26 percent - cash and cash equivalents, 5 percent - interbank loans and other assets.
The volume of the Bank's loan portfolio has increased 1.6 times in comparison with 2009 and has reached 196,081 manat ($245,746). Effective provision rate on the portfolio has comprised 4.2 percent.
Return on equity (ROE) has comprised 18,2 percent (2009 - 16,9 percent), return on assets (ROA) came to 4.1 percent (2009 - 5,5 percent), liquidity ratio to 171percent (2009 - 77 percent), capital adequacy ratio to 62 percent (2009 - 77 percent).
Bank holds fifth position in the country both by its profitability and by its assets.
The official exchange rate is 0.792 manat to $1.