BAKU, Azerbaijan, October 20. Net income from fees and commissions at PASHA Bank Georgia increased 2.68 times in the first half of 2023, PASHA Bank board member Murad Suleymanov said, Trend reports.
He spoke at a press conference dedicated to the results of the bank's activity for the first half of 2023.
According to him, net income from fees and commissions amounted to 483,000 manat ($284,117) in the first half of 2023 (180,000 manat or $105,882 year-on-year).
"PASHA Bank Georgia's interest income increased by 57.6 percent, or 6.3 million manat ($3.7 million) last year (from 10.9 million manat to 25.4 million manat - from $6.4 million to $14.9 million). Income from foreign exchange operations of the bank increased by 78.4 percent from 1.6 million manat to 2.9 million manat (from $941,176 to $1.7 million) in the reporting period," he said.
Suleymanov emphasized that PASHA Bank Georgia's operating income increased by 76.2 percent, or 6.2 million manat ($3.6 million), and amounted to 14.3 million manat ($8.4 million).
In addition, the bank's total operating expenses amounted to 20.3 million manat ($11.9 million) last year, which is 37.63 percent or 3.5 million manat ($2 million) more year-on-year (9.3 million manat or $5.4 million).
"The bank's losses amounted to 1.5 million manat ($882,352) at the end of the first half of the year, while the number of employees increased by 18.5 percent (from 319 to 378 people)," he added.
