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Azerbaijan’s PASHA Bank talks on external borrowing

Business Materials 5 October 2017 10:05 (UTC +04:00)

Baku, Azerbaijan, Oct. 5

By Anvar Mammadov – Trend:

Azerbaijan’s PASHA Bank has no external liabilities to date, Hayala Nagiyeva, member of the bank’s executive board, said.

Nagiyeva made the remarks at a press conference in Baku dedicated to the bank’s activity in January-June 2017.

“We don’t have any plans to attract foreign loans in the near future,” she said. “However, we are a corporate bank, and if we receive an interesting proposal, we will consider it. Our capital allows this, and we don’t exclude the possibility of external borrowing.”

As of the end of the first half of 2017, PASHA Bank’s liabilities amounted to 3.14 billion manats ($1.84 billion as of Oct. 5), which is a 12 percent growth since the beginning of the year.

Major part of the liabilities (2.7 billion manats) accounted for dividends to customers. Liabilities to banks and state funds slightly decreased to 312.9 million manats, while the issued debt securities increased by 55 percent to 28.9 million manats.

PASHA Bank was established in 2007.

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