Baku, Azerbaijan, July 16
By Kheyraddin Nasirzade - Trend:
Azerbaijan’s PASHA Bank in the first half of this year increased the volume of total assets compared to the same period last year by 13.5 percent, Trend reports referring to the financial report of the bank.
The bank’s total assets amounted to 4.43 billion manats at the end of June, which exceeds last year’s figure by 528.596 million manats, according to the report. The main share of assets is held by the loan portfolio (31.6 percent) with a volume of 1.402 billion manats, which increased by 35.2 percent over the year. Also, the increase in the volume was observed in investment securities available for sale - 58.4 percents, amounting to 1.293 billion manats.
During the reporting period, the bank reduced the amount of expected funds from other credit organizations by almost 40 percent, reaching 679.455 million manats. Investments in subsidiaries remained unchanged at 148.987 million manats. Investments in trading securities increased by almost 71 percent, to 8.842 million manats.
The volume of fixed assets in the form of real estate and equipment increased by 22.4 percent, to 15.377 million manats. In the first six months, the volume of cash increased by 13.1 percent, reaching 785.774 million manats.
According to the report, the volume of total liabilities for the reporting period increased by 13.2 percent, exceeding 4 billion manats. In the structure of liabilities, the volume of total debts to customers increased by 11.5 percent, reaching 3.626 billion manats.
Liabilities to banks and state funds increased by 40.5 percent, amounting to 296.464 million manats. The bank also increased the volume of reserves for guarantees and letters of credit by 73.8 percent, to 7.028 million manats.
The bank’s own capital during the reporting period increased by 17.2 percent, reaching 425.806 million manats. Share capital remained unchanged at 333 million manats. Retained earnings increased by more than 3 times, amounting to 91.939 million manats.
(1 USD = 1.7 AZN on July 16)
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