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Azerbaijan’s PASHA Bank increases its loan portfolio by 10%

Business Materials 18 July 2018 20:40 (UTC +04:00)

Baku, Azerbaijan, July 18

By Azad Hasanli - Trend:

The loan portfolio of Azerbaijan’s PASHA Bank exceeded 1 billion manats in the first half of 2018, having increased by almost 10 percent since the beginning of the year, the Bank's financial report says.

The bank's total assets for the first half of the year increased by 9.86 percent to 3.9 billion manats. During the reporting period, the bank significantly increased the volume of investment securities - almost 2.1 times, to 816.78 million manats.

PASHA Bank's liabilities amounted to 3.5 billion manats (an increase of 11 percent since the beginning of the year), in particular liabilities to customers amounted to 3.25 billion manats (an increase of 16.1 percent).

The liabilities of PASHA Bank to other banks and public funds reduced slightly - from 228.97 million manats to 211.08 million manats.

Net profit of the Bank amounted to 22.16 million manats in the first six months of this year (6.5 million manats for the first quarter and 15.63 million manats for the second quarter). For comparison, the Bank's net profit amounted to 13.5 million manats in the first half of 2017, and to 58.99 million manats for the whole last year.

PASHA Bank has been operating in Azerbaijan since 2007 and is a member of the PASHA Group of Companies, a large investment holding in Azerbaijan, which is also widely represented in such sectors as insurance, construction, production of construction materials, tourism, and other areas of business.

(1.7 manats = 1 USD on July 18)

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