Loan portfolio of Azerbaijan’s PASHA Bank greatly increases

Finance Materials 28 January 2020 14:24 (UTC +04:00)
Loan portfolio of Azerbaijan’s PASHA Bank greatly increases

BAKU, Azerbaijan, Jan. 28

By Eldar Janashvili - Trend:

Last year, the total assets of PASHA Bank, Azerbaijan’s leading corporate bank, increased by 1.5 percent over the year, Trend reports with reference to the bank’s balance sheet.

The bank’s total assets increased by 71 million manat ($41.7 million), to 4.7 billion manat ($2.8 billion), according to the report.

In the structure of assets, the biggest part - about 39 percent, is held by loans issued to clients and financial organizations, the volume of which increased by 44.6 percent, reaching almost 1.9 billion manat ($1.1 billion). The deduction of target reserves from the portfolio to ensure possible losses from loans amounted to a little more than 45 million manat ($26.4 million).

The bank’s cash volume decreased by almost 6.5 times, amounting to 98 million manat ($57.6 million). Investments in securities amounted to about 1.1 billion manat ($647 million), which is 23.6 percent less than in 2018. Deposits in banks and other financial institutions, the volume of which decreased by 31 percent, amounted to 692.4 million manat ($407.2 million). Correspondent accounts in the Central Bank of Azerbaijan and other banks amounted to 745 million manat ($438.2 million).

In the structure of long-term assets, fixed assets amounted to 15 million manat ($8.8 million). Intangible assets, net of depreciation, amounted to 30.4 million manat ($17.8 million). Other assets amounted to slightly over 231 million manat ($135.8 million).

($1= 1.7 manat on Jan. 28)