Baku, Azerbaijan, May 21
By Kheyraddin Nasirzade - Trend:
The share of loans issued in the field of trade and services, accounting for 41.3 percent of the total loan portfolio of Azerbaijan’s Pasha Bank for 2018, increased by 47.3 percent, reaching 715.5 million manats, Bahruz Nagiyev, chief financial administrator, as well as a member of the bank’s board, said at a conference on the results of the bank’s work in 2018, told Trend May 21.
In addition, the value of loans issued to individuals increased by 29.4 percent over the year, reaching 200.9 million manats, which in turn amounts to 11.6 percent of the bank’s loan portfolio.
Also, a significant increase was observed in lending in the production sector - by 24.6 percent, up to 175.8 million manats, which makes 10.2 percent of the total loan portfolio of the bank.
Loans issued by Pasha Bank to non-bank credit organizations (NBCOs) increased by 3.8 percent and amounted to about 161.2 million manats (9.3 percent of the bank’s loan portfolio).
A significant increase in lending was observed in the field of transport and telecommunications - almost 2.7 times to 124.9 million manats (7.2 percent of the bank’s loan portfolio).
The value of the bank’s loan portfolio as of Dec. 31, 2018 amounted to 1.7 billion manats, which is 28.2 percent more than in 2017.
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