Azerbaijani leading bank’s total assets up

Finance Materials 15 January 2021 14:58 (UTC +04:00)

BAKU, Azerbaijan, Jan. 15

By Zeyni Jafarov - Trend:

Azerbaijan’s PASHA Bank increased its total assets by 15.6 percent as of 2020, compared to 2019, Trend reports on Jan. 15 with reference to the bank's consolidated annual report.

In accordance with the report, total assets increased to 5.4 billion manat ($3.2 billion). In the structure of assets, the biggest share (38 percent) accounts for the loan portfolio in the amount of 2.09 billion manat ($1.2 billion), which increased by 16.5 percent for the year. The deduction of target reserves from the portfolio to ensure possible losses amounted to 34.5 million manat ($20.3 million).

Some 28.2 percent of assets accounted for investments in securities in the amount of 1.5 billion manat that’s $882 million (an increase of 42 percent). The correspondent account in the Central Bank of Azerbaijan increased by 15.5 percent for the year and amounted to 605.6 million manat ($356.2 million).

The share of this account in the structure of assets is estimated at 11 percent.

In the structure of long-term assets, unused real estate amounted to 4.8 million manat ($2.8 million), an increase of 1.8 times on an annualized basis. Intangible assets did not change for the year, amounting to 30 million manat ($17.6 million).

Other assets amounted to 72.2 million manat that’s $42.5 million (a decrease of 14.7 percent).


Follow the author on Twitter: @jafarov_zeyni