Azerbaijan’s PASHA Bank completes 1H2016 with profit
Baku, Azerbaijan, Aug. 11
By Anvar Mammadov – Trend:
Azerbaijan’s PASHA Bank OJSC completed the 1H2016 with a net profit of 20.33 million manats, said the bank’s balance sheet posted on its website.
The bank completed the 1H2015 with a net loss of 873,000 manats.
PASHA Bank’s interest income increased by 23.7 percent compared to 1H2015 and amounted to 49.63 million manats in January-June 2016.
Interest expenses of the bank increased by 2.04 times compared to the late 2Q2015 and totaled 16.64 million manats in late June 2016. the bank’s net interest income amounted to almost 33 million manats during the reporting period.
Non-interest income of PASHA Bank amounted to 43.2 million manats in 1H2016, which is by 9.5 times more than in the 1H2015.
PASHA Bank’s assets increased by 24.4 percent compared to the 1H2015 and amounted to 2.04 billion manats in January-June 2016.
The bank’s liabilities totaled 1.66 billion manats in late 2Q2016, which is by 28.7 percent more than in 1H2015. During the reporting period, PASHA Bank’s liabilities to the country’s Central Bank (CBA) amounted to 23 million manats.
The authorized capital of PASHA Bank has remained unchanged in the 1H2016 – at the level of 333 million manats, while the bank’s aggregate capital increased by 5.5 percent compared to 1H2015 and totaled 375.1 million manats.
Pasha Bank is a leading corporate bank in Azerbaijan. The bank, founded in 2007, renders a range of corporate banking services, including issuing of loans, operations in the securities market, asset management, and treasury services.