BAKU, Azerbaijan, Oct.19
By Zeyni Jafarov – Trend:
The total assets of Azerbaijan’s PASHA Bank increased by 11.1 percent in the third quarter of 2020 compared to the same period of 2019, Trend reports citing the bank’s balance sheet report.
According to the report, the bank’s total assets rose by 485.6 million manat ($285.6 million) year on year, having totaled 4.87 billion manat. In the structure of assets, the largest share belongs to the loan portfolio in the amount of over 2.04 billion manat ($1.2 billion), which increased by 21.6 percent.
The deduction of target reserves from the portfolio to ensure possible losses amounted to 42.4 million manat ($29.4 million).
“Investments in securities account for more than a third of the total assets. Their volume reached 1.45 billion manat ($582.9 million),” said the report.
In the structure of long-term assets, unused real estate amounted to 3.7 million manat ($2.1 billion). Intangible assets decreased by 15.4 percent, amounting to 25.8 million manat ($15.1 million).
In the first nine months of 2020, PASHA Bank’s total liabilities increased by 11.2 percent, reaching 4.35 billion manat ($2.55 billion), the report added.
Meanwhile, the bulk of liabilities (83.1 percent) fell on deposits, the share of which increased by 9.2 percent and amounted to 3.62 billion manat ($2.12 billion).
Other liabilities of the bank reached 83.9 million manat ($49.3 million), an annual growth of 15.8 percent.
According to the report, the bank's share capital increased by 21.5 million manat ($12.6 million) on an annualized basis and amounted to 354.5 million manat ($208.4 million). Undistributed profit amounted to 120.4 million manat ($70.8 million), an increase of 14.8 percent over the year.
At the same time, capital reserves amounted to 41.5 million manat ($24.4 million). Private capital amounted to 474.9 million manat ($279.3 million), showing an increase of 8.5 percent.
(1 USD = 1.7 manat on Oct. 19)
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