BAKU, Azerbaijan, September 18. Azerbaijan's PASHA Bank expanded its loan portfolio in the main non-oil sector areas by 13.2% during the first half of 2026, reaching 3.31 billion manat ($1.94 billion), Deputy CEO of PASHA Bank's Executive Board Bahruz Naghiyev said at a press conference on the bank’s first-half 2026 results, Trend's correspondent reports from the event.
“Against the backdrop of 6.5% nominal and 1.5% real growth in the non-oil economy, PASHA Bank continued lending to the main sectors of the economy,” Naghiyev noted.
According to him, during the reporting period, total lending to the non-oil sector across the market increased from 42.8 billion manat ($25.17 billion) to 45.6 billion manat ($26.8 billion).
“PASHA Bank’s non-oil sector loan portfolio stood at 2.9 billion manat ($1.7 billion) in June 2025 and reached 3.310 billion manat ($1.94 billion) in June 2026. This represents a 13.2% year-on-year increase,” the deputy CEO pointed out.
Naghiyev also said trade accounted for 22.3% of PASHA Bank’s non-oil sector loan portfolio, transport for 20%, construction for 12%, information and communications for 2.1%, agriculture for 5.5%, industry for 16%, and other sectors for 22.1%.
“The transport sector recorded particularly significant growth in its loan portfolio. Loans to this sector increased from 269 million manat ($158.2 million) to 663 million manat ($390 million), representing a 146.7% increase,” he added.
The bank official also noted growth in PASHA Bank’s overall financial indicators.
“In the first half of 2026, the bank’s total assets increased by 1.4% compared with the end of last year, reaching 9.98 billion manat ($5.871 billion), while its loan portfolio rose 5% to 4.08 billion manat ($2.4 billion). Our capital grew 4.7% to 1.01 billion manat ($594.1 million),” Naghiyev explained.
He noted that the deposit portfolio decreased by 2% to 7.75 billion manat ($4.559 billion). Interest income increased by 10.2% to 301.8 million manat ($177.5 million), operating income rose by 1.6% to 225 million manat ($132.4 million), and net income rose 0.6% to 96.5 million manat ($56.8 million).
“We are also continuing our activities in green financing. The bank’s green loan portfolio stands at 36.8 million manat ($21.6 million), of which 64.1% has been allocated to green transport projects,” the deputy chairman emphasized.
Naghiyev also touched on PASHA Bank’s IPO process.
“One of the key events during the reporting period was the successful completion of the IPO process. The subscription rate for this IPO, the first of its kind in Azerbaijan’s private banking sector, reached 129%,” he said.
According to him, the total subscription amount under the IPO was 66.3 million manat ($39 million), while the placement amount stood at 51.3 million manat ($30.2 million).
“A total of 17,960 unique investors participated in the IPO. This figure demonstrates the broad investor interest in capital markets and the bank’s shares,” Naghiyev added.
