Baku, Azerbaijan, April 18
By Kheyraddin Nasirzade – Trend:
Net profit of Azerbaijan’s Pasha Bank OJSC for the first quarter of 2019 amounted to 35.7 million manats, which is almost 5.5 times more than in the same period last year, Trend reports referring to the financial report of the bank.
According to the report, the total assets increased by 25.4 percent compared with last year's figures and reached 4.65 billion manats.
In the structure of assets, the volume of cash in the bank decreased by 41.6 percent reaching 575.9 million manats. Investment in securities increased by more than 5 times and reached 1.62 billion manats. The volume of debts of other credit organizations to the bank decreased by 21 percent and amounted to 948.3 million manats.
The bank's loan portfolio increased by 29.8 percent making up 1.27 billion manats. Tangible assets in the form of property and equipment increased by 25.4 percent and reached 14.7 million manats. A significant increase by 76.6 percent was observed for intangible assets, which made up 27.09 million manats.
The volume of total liabilities of Pasha Bank in the first quarter of 2019 amounted to 4.19 billion manats, which is 27.1 percent higher than in the same period last year. Liabilities to other banks and state funds increased by 29.02 percent and amounted to 237.8 million manats. In the structure of general liabilities, the volume of the deposit portfolio and other customer accounts increased by 29.7 percent reaching 3.86 billion manats. Obligations to other credit organizations have been reduced to zero. In addition, liabilities on investment securities, which were not observed in the first quarter of last year, amounted to 19.7 million manats. Provisions for guarantees and letters of credit increased by 69.8 percent and reached 6.1 million manats. Other liabilities of the bank amounted to 67.3 million manats, which is 31.3 percent lower than last year.
The total capital of the bank increased by 11.03 percent reaching 454.3 million manats.
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