BAKU, Azerbaijan, May 6
By Eldar Janashvili – Trend:
PASHA Bank OJSC, a leading corporate bank of Azerbaijan, increased its total assets by 4.4 percent in 2019, compared to preceding year, Trend reports referring to the bank’s consolidated audited annual balance sheet.
The total assets soared by 231 million manat ($135.9 million) in annual terms to make up 5.44 billion manat ($3.2 billion). Most of the assets (42.2 percent) accounted for the loan portfolio, the volume of which spiked by 33 percent to make up 2.3 billion manat ($1.3 billion).
Almost 22 percent of the total assets accounted for cash and its equivalents. Their volume decreased from 1.5 billion manat ($880 million) to 1.185 billion manat ($700 million).
The remaining 21.1 percent of the assets accounted for investments in securities, which dropped by 21.4 percent, making up 1.15 million manat ($680,000).
Meanwhile, assets related to other credit organizations soared by almost half to 624.4 million manat ($367.2 million).
The annual share of non-used real estate property in the structure of long-term assets made up 46 million manat ($27 million), a growth by 2.5 times on annualized basis.
Intangible assets rose up by 1.3 percent to make up 50.4 million manat ($29.6 million). Other assets amounted to 29.9 million manat ($17.5 million), a slide of 14.7 percent.
Furthermore, in the reporting period PASHA Bank increased its total liabilities by 4.7 percent to 4.8 billion manat ($2.8 billion).
A great part (77.6 percent) in the structure of liabilities accounts for deposits, the volume of which slid by 4.2 percent to make up 3.79 billion manat ($2.23 billion).
Liabilities to the Central Bank of Azerbaijan, credit organizations and other financial institutions spiked by 64.2 percent for the year and amounted to 862.1 million manat ($507.1 million). Other liabilities amounted to 32.3 million manat ($19 million), slumping half.
As reported, the bank’s share capital on an annualized basis remained unchanged, standing at 333 million manat ($195.8 million).
Retained earnings made up 143.3 million manat ($84.3 million), a growth of 24.8 percent over the year.
Non-controlling interests amounted to 80.96 million manat ($47.62 million).
Total capital of the bank amounted to 560 million manat ($329.4 million), a growth of 2.2 percent.
PASHA Bank was established in 2007. It has three branches, two foreign exchange offices in Azerbaijan, one office in Georgia and one in Turkey.
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