Azerbaijan's PASHA Bank looks to raise share of business loans in its portfolio

Finance Materials 13 October 2021 15:48 (UTC +04:00)

BAKU, Azerbaijan, Oct.13

By Sadraddin Aghjayev - Trend:

Azerbaijan’s PASHA Bank plans to raise the share of business loans in its portfolio, Bahruz Naghiyev, the bank’s chief financial officer and executive board member, said on Oct.13, Trend reports.

Naghiyev made the remark at a conference entitled "Financial indicators of PASHA Bank for the first half of the year".

According to him, for raising the mentioned share, measures will be taken to expand services for small and medium-sized businesses.

"In accordance with the policy of our bank on issuing loans, we don’t avoid lending to business sectors on a long-term basis, that is, for a period of 5-10 years," the board chairman further said.

He also noted that PASHA Bank has 10,800 active clients. This figure, according to him, over the past six months has grown by more than 18.5 percent or 2,000 clients.

The main goal of the bank in 2021 is to maintain the share of business loans in its portfolio within 25 percent.

The bank’s authorized capital in the first financial half of 2021 amounted to 354.5 million manat ($208.5 million).


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