BAKU, Azerbaijan, July 17
By Fidan Babayeva – Trend:
Azerbaijan’s PASHA Bank OJSC increased its total assets by 4 percent in the first half of 2020 compared to the same period in 2019, Trend reports citing the bank’s balance sheet.
The total assets of the bank rose by 164 million manat ($96.4 million) up to 4.8 billion manat ($2.8 billion) for the year. In the structure of assets, the largest share accounted for the loan portfolio in the amount of over 1.8 billion manat ($1.06 billion), soaring by 49.5 percent.
The deduction of target reserves from the portfolio for ensuring possible losses amounted to 46 million manat ($27 million).
Almost 25 percent of the total volume of assets accounted for investments in securities, which reached 1.2 billion manat ($710 million).
The share of non-used real estate property in the structure of long-term assets made up 4.2 million manat ($2.4 million).
Intangible assets rose up by 7 percent to make up 27.2 million manat ($16 million).
Furthermore, in the reporting period, PASHA Bank increased its total liabilities by 4.7 percent to 4.4 billion manat ($2.5 billion).
A significant part in the structure of liabilities accounts for deposits, the volume of which made up 3.6 million manat ($2.1 million).
Other liabilities amounted to 80 million manat ($47 million), increasing by 19.4 percent.
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 88.7 million manat ($52.1 million), a drop of 36.4 percent over the year.
Capital reserves amounted to 41 million manat ($24.1 million).
Total capital of the bank amounted to 421.7 million manat ($248 million), a decrease of 7.2 percent.
PASHA Bank was established in 2007. It has three branches and two foreign exchange offices in Azerbaijan, one office in Georgia and one in Turkey.
(1 USD = 1.7 AZN on July 17)
---
Follow the author on Twitter: @Fidan_Babaeva