Azerbaijan’s PASHA Bank increases assets to 5M manat
Baku, Azerbaijan, Oct. 8
By Eldar Janashvili - Trend:
In the first half of 2019, Azerbaijan’s PASHA Bank increased its total assets’ volume by 13.5 percent compared to the same period last year, to 5.043 million manat ($2.972 million), Trend reports referring to the chief financial administrator of PASHA Bank Bahruz Nagiyev who spoke at a press conference on the results of the bank’s activities for the first half of 2019.
During the reporting period, the bank’s cash decreased by 31 percent, to 1.105 million manat ($651,343), Nagiyev said.
The reduction in cash and cash equivalents in particular is explained by the purchase of investment securities, the volume of which during the reporting period increased from 859,000 manat ($506,240) to 1.348 million manat ($794,425).
In terms of total assets, as well as in terms of many other financial indicators, PASHA Bank regularly ranks first in the top five banks of Azerbaijan.
($1= 1.7 manat on Oct. 8)