Azerbaijani PASHA Bank increases loan and deposit portfolios

By  Trend

PASHA Bank, the largest corporate bank in Azerbaijan, has increased assets by 11 percent up to 4.33 billion manats in 3Q2018 compared to the previous quarter, the bank’s financial report says.

The bank's loan portfolio has amounted to 1.14 billion manats, increasing by 10.3 percent over the quarter. The overdue loans accounted for 9.2 percent (111.97 million manats) of the entire loan portfolio.

In the structure of assets, nearly 805.7 million manats have fallen to the share of cash money (a 16 percent growth over the quarter). The investments in securities have continued to grow throughout the year, and have grown by 38.5 percent over the quarter, reaching 1.13 billion manats.

The investments in subsidiaries during the year have amounted to 148.99 million manats.

The total liabilities of the bank for the quarter also have increased from 3.54 billion to 3.94 billion manats. Almost all liabilities of the bank have fallen on customers' deposits (3.6 billion manats), the volume of which have increased by 11.37 percent over the quarter.

The obligations to banks and state foundations have amounted to 251.15 million manats (growth by 19 percent over the quarter). In the second quarter, the bank fully repaid obligations to other credit organizations. In the first quarter, their volume amounted to 36.8 million manats.

The bank's interest incomes for the reporting period have amounted to 124.26 million manats, the non-interest incomes – to 22.35 million manats, including the commission fees which have amounted to 10.68 million manats. The bank's interest costs amounted to 27.2 million manats, and non-interest costs – to 57.3 million manats, including administrative costs which amounted to 20.79 million manats and expenses related to employees (payment of salaries, etc.) which amounted to 31.06 million manats.

As a result, after deduction of all expenses, the bank’s net profit for the quarter has been formed at the level of almost 28.3 million manats, and for the first nine months of this year – at the level of 50.4 million manats. The bank has allocated 1.3 million manats for payment of income tax.

The share capital of PASHA Bank amounts to 333 million manats, the overall capital - to 418.52 million manats, and the overall capital after deductions has amounted to 269.28 million manats. At the same time, the adequacy ratio of the overall capital has amounted to 12.6 percent (the minimum requirement of the regulator is ten percent).

The official exchange rate for November 5 is 1.7 AZN / USD.