Azerbaijan, Baku, Sept. 26 / Trend J. Nasibova /
Azerbaijani PASHA Bank's share in the total assets of the sector is about 5 percent and by the end of this year the bank will be able to increase the figure up, PASHA Bank board chairman Farid Akhundov said in an interview published in Azernews newspaper today.
"Despite the fact that we have very serious rivals in this sector, who have been conducting business for a long time by using a well-designed work model, we expect an increase in this SME sector by the end of the strategy period," he said.
Traditionally, the absolute indicators of a bank's activity - liabilities, assets, profitability, capital - are always important, but for us the main internal parameters are the quality of business, "health indicator of the organization" and competent management of our own resources, he said.
"For example, the staff of the Bank numbers only 172 people for now, but the revenue per employee in our bank is one of the highest. We also have the lowest cost to income ratio among the banks in the market," he said. "Hence it appears that the work of our Bank is set correctly."
"In the bank's new strategy designed for 2012-2014 PASHA Bank will mainly focus on the further development of three areas of activity: corporate banking, treasury operations, wholesale and on private banking," he said. "The bank also plans to establish closer contacts with small and medium enterprises (SME), while still keeping large corporate entities in our business focus. The bank also plans to remain active in the securities market. The bank will try to gain a foothold as the leading corporate bank in Azerbaijan."
"As for the prospects of the Bank, participation in international summits, undertaking extensive road-shows in the Old World has enabled us to quickly establish relations with leading financial institutions and open up new horizons for further development," he said. "The prerequisites for this are strong, competitive offerings for customers, competent and well-delivered services, as well as the development and introduction of new services. We are moving towards our goals slowly but steadily, rooting in the local banking market and winning the trust of consumers of banking services."
The assets of Azerbaijani Pasha Bank in January - August 2012 increased by 7.5 percent and amounted to 613.32 million manat.
The bank's loan portfolio during the reporting period increased by 24.9 percent to 306.12 million manat. The volume of funds at the clients' accounts amounted to 335.6 million manat, decreasing by 9.6 percent.
The authorized capital of the bank, as of September 1, amounted to 157 million manat, increasing by 27.6 percent. The yield of the bank's assets amounted to 5 percent compared to 3 percent in early 2012.
PASHA Bank was established in June, 2007 and operates under licence of the Central Bank of Azerbaijan dated Jan.28, 2007.
The Bank, along with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction, is included in the Pasha Holding Company which is actually an investment company, but not a classic holding company.
Kapital Bank is also included in the structure of the Pasha Group. The Holding owns 99.75 per cent of the shares in Kapital bank.
Official exchange rate on Sept 26 is 0.7853 AZN/USD.