Azerbaijani PASHA Bank’s subsidiary increases deposit portfolio
Baku, Azerbaijan, Oct. 28
By Azad Hasanli – Trend:
PASHA Bank Georgia, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Georgia, increased its deposit portfolio by 7.3 times – from 5.6 million to 41 million Georgian laris in the 3Q2016 as compared to late September 2015, according to the bank’s financial report.
The report says that the bank’s deposit portfolio rose thanks to the increase (from 3.6 million to 36.12 million laris) in deposits in foreign currency.
PASHA Bank Georgia’s liabilities decreased by 6.6 percent during a period from September 2015 to September 2016 and amounted to 177.26 million laris.
The bank’s borrowings totaled 10.7 million laris in the 3Q2016 (a decrease by 7.2 times during the period).
Assets of PASHA Bank Georgia decreased by 2 percent to hit 277.86 million laris.
A major part of the bank’s assets – 88.8 million laris – accounts for loans.
The bank also had 94.86 million laris on its accounts in the National Bank of Georgia and other banks.
PASHA Bank Georgia completed the 3Q2016 with a profit of 6.56 million laris, that is, by almost 2.3 times more than the same period of 2015.
The bank’s revenues amounted to 20.04 million laris and its expenses were 13.5 million laris in January-September 2016.
Azerbaijan’s PASHA Bank was established in 2007 and its Georgian subsidiary operates since 2013.