Baku, Azerbaijan, Mar.13
By Azad Hasanli - Trend:
PASHA Bank JSC plans to launch an agriculture insurance program by late 2015, a member of the Board of the bank, Chief Investment Director Taleh Kazimov told Trend March 13.
"The program is currently under development, but I think that we can begin to implement it before the end of the year," he said.
The bank strives to provide its services to this sector, according to Kazimov. "When selecting projects, the main criteria for us, in addition to stability, are our understanding of the business of the borrower, the existence of ways of sales," he said.
The Bank divides the corporate sector into three segments: large (corporate) customers, whose annual turnover exceeds 35 million manats (AZN), medium (commercial) customers [middle size business] with a turnover of between 3 million manats and 35 million manats and small (business) customers with a turnover of up to 3 million manats. The minimum amount of lending is 30,000 manats. Currently there is no limiting on bank lending, according to a representative of the bank.
The official exchange rate for March 13 is 1. 0489 AZN / USD.
To date, the general obligations of PASHA Bank are about 867 million manats, total capital - 333 million manats. Deposits of individuals account for about 32 percent of the deposit portfolio.
The Bank has allocated about half a billion manats on lending to the real sector.
PASHA Bank is a leading corporate bank in Azerbaijan. Founded in 2007, the bank renders a wide range of corporate banking services, including the issuance of loans, transactions on the securities market, asset management and treasury services. Around 329 people work in PASHA Bank, represented by its head office and nine business centers.
Edited by CN
Follow the author on Twitter: @AzadHasanli