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Azerbaijani PASHA Bank's Q12021 total assets grow

Finance Materials 15 April 2021 12:50 (UTC +04:00)
Azerbaijani PASHA Bank's Q12021 total assets grow

BAKU, Azerbaijan, Apr. 15

By Zeyni Jafarov - Trend:

Azerbaijan’s PASHA Bank had increased its total assets by 19.1 percent from January through March 2021, compared to 1Q2020, Trend reports on Apr. 15 with reference to the bank's financial report.

According to the report, the total assets grew to 5.67 billion manat ($3.34 billion). In the structure of assets, the biggest share (38.7 percent) accounted for the loan portfolio in the amount of 2.2 billion manat ($1.3 billion), up by 18.1 percent for the year. The deduction of target reserves from the portfolio to ensure possible losses amounted to 40 million manat ($23.5 million).

Some 28.5 percent of assets accounted for investments in securities in the amount of 1.62 billion manat that’s $950 million (an increase of 40.1 percent). The bank’s correspondent account in the Central Bank of Azerbaijan rose by 7.95 percent for the year and amounted to 380.45 million manat ($223.8 million).

The share of this account in the structure of assets was estimated at 6.7 percent.

In the structure of long-term assets, unused real estate amounted to 3.1 million manat ($1.8 million), an increase of 1.4 times on an annualized basis. Intangible assets almost didn’t change for the year, amounting to 28.57 million manat ($16.8 million).

Other assets amounted to 68.6 million manat that’s $40.35 million (a growth of 12.3 percent).

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