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Azerbaijan's PASHA Bank sees increase in assets

Finance Materials 28 July 2021 20:19 (UTC +04:00)
Azerbaijan's PASHA Bank sees increase in assets

BAKU, Azerbaijan, July 28

By Zeyni Jafarov - Trend:

The total assets of the Azerbaijani PASHA Bank increased by 23 percent in the second quarter of 2021 compared to the same period of last year, Trend reports citing the bank's financial report on July 28.

In accordance with the report, the total assets of PASHA Bank increased up to 5.9 billion manat ($3.5 billion). In their structure, the biggest share (36.9 percent) accounted for the loan portfolio - 2.2 billion manat ($1.3 billion), which increased by 15.7 percent for the year. The deduction of target reserves from the loan portfolio to ensure possible losses amounted to 51.9 million manat ($30.5 million).

Some 30.2 percent of the bank's assets accounted for investments in securities - 1.8 billion manat $1.05 billion (an increase of 47.8 percent).

The funds on the correspondent account of PASHA Bank in the Central Bank of Azerbaijan increased by 72.4 percent for the year and amounted to 701.6 million manat ($412.7 million). The share of this account in the structure of PASHA Bank assets is estimated at 11.8 percent.

In the structure of long-term assets of the bank, unused real estate amounted to 3.2 million manat ($1.9 million), decreasing by 23 percent on an annualized basis.

Intangible assets for the year increased by 8.2 percent, amounting to 29.4 million manat ($17.3 million). Other assets of PASHA Bank are estimated at 101.9 million manat $59.9 million (increase of 1.6 times).

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