Baku, Azerbaijan, Nov. 10
By Anvar Mammadov – Trend:
As of September 30, 2017, the loan portfolio of PASHA Bank Georgia OJSC (a subsidiary of Azerbaijan’s PASHA Bank) amounted to 111.85 million lari, which is 22.7 percent more than in the same period last year, the bank said in its report on the results of the third quarter of 2017.
The assets of the bank in general, during the reported period, amounted to 250.92 million lari, showing a decrease of 9.6 percent, compared to late September 2016.
During the reported period, 603,700 lari were accumulated in cash and cash equivalents, which is 3.7 percent more than in the same period last year. About 24 percent of the assets, or 59.21 million lari, accounted for investment securities.
Reduction of the bank’s assets occurred against the backdrop of reduction in its liabilities, by 17.9 percent (to 145.59 million lari) compared to early October 2016.
The deposits of Georgia’s population in PASHA Bank Georgia during the reported period amounted to 46.72 million lari (9.79 million lari accounted for current deposits, 36.93 million lari - term deposits) or 13.9 percent more than in the same period last year.
As of late September 2017, the authorized capital of PASHA Bank Georgia remained unchanged (103 million lari). The bank’s total capital amounted to 105.33 million lari (including 2.33 million lari of retained earnings), having increased by 4.9 percent compared to the same period the year. For comparison: as of September 30, 2016, this indicator was equal to 100.4 million lari.
PASHA Bank Georgia has been operating since February 2013.
The official exchange rate of the National Bank of Georgia as of Nov. 10 is 2.637 GEL/USD.