PASHA Bank’s share in Azerbaijani banking sector reaches 10% (UPDATE)

Business Materials 25 April 2017 12:17 (UTC +04:00)

Details added (first version posted at 11:05)

Baku, Azerbaijan, Apr. 25


PASHA Bank’s share in the Azerbaijani banking market in terms of volume of assets reached 10 percent as of late 2016, Taleh Kazimov, the bank's CEO and chairman of Executive Board, told a press conference in Baku.

The bank's share in terms of the volume of the loan portfolio reached 5.5 percent, he said Apr. 25.

In 2016, PASHA Bank's assets totaled nearly 3.3 billion manats, which is 43 percent more than in late 2015. The loan portfolio increased by 23 percent during the reporting period to reach almost 1.17 billion manats.

Kazimov further said that PASHA Bank OJSC plans to complete the work on development of a new development strategy by the end of June.

He noted that special attention in the new strategy will be paid to such sector of the economy as agriculture, IT, transportation, manufacturing spheres and others.