BAKU, Azerbaijan, May 18. The financial data of PASHA Bank's subsidiaries - PASHA Bank Georgia and “PASHA Yatırım Bankası” A.Ş. (PASHA Bank Türkiye) have changed in different directions by the end of 2022, Murad Suleymanov, a member of the Executive Board of PASHA Bank, said at a press conference dedicated to the results of 2022, Trend reports.
According to Suleymanov, the Turkish PASHA Yatırım Bankası A.Ş. subsidiary bank in the reporting period increased its total assets by 23.4 percent to 584.2 million manat ($343.6 million) compared to 2021.
The volume of loans issued to customers in 2022 rose by 0.8 percent to 324.4 million manat ($190.8 million) year-on-year.
The total capital of the subsidiary bank, having increased by 15.9 percent, amounted to 93.4 million manat ($54.9 million), while net income from fees and commissions reached 5.4 million manat ($3.1 million), which is almost three times more than in 2021.
Moreover, net profit on foreign exchange transactions decreased by 47.4 percent to 1.7 million manat ($1 million). Operating profit amounted to 32.4 million manat ($19 million), which is 14.4 percent more than in the same period of 2021. Total operating expenses were reduced by 9.5 percent to 9.3 million manat ($5.4 million).
The bank's activity in 2022 was at a loss of 11.3 million manat ($6.6 million) with a decrease of 2.2 times year-on-year.
In turn, the PASHA Bank Georgia subsidiary bank increased its total assets by 33.4 percent up to 326.5 million manat ($192 million) in 2022 compared to the previous year.
The volume of loans issued to customers increased by 30.4 percent and amounted to 220.9 million manat ($130 million), while the total capital of the subsidiary bank, having increased by almost half, amounted to 64.7 million manat ($38 million).
Net income from fees and commissions amounted to 604,000 manat ($355,294), which is almost 20 times more than in 2021, while net profit on foreign exchange transactions grew by 3.25 times to 5.5 million manat ($3.2 million).
Operating profit reached 21.7 million manat ($12.7 million), which is 91.1 percent more than in 2021, while total operating expenses reached 20.3 milllion manat ($11.9 million).
The bank's losses in the reporting period amounted to 1.3 million manat ($764,705).
The authorized capital of PASHA Bank in Azerbaijan amounted to over 8.4 billion manat ($4.9 billion) by the end of 2022, and according to this figure, the bank took a leading position among the country's banks.
