22 Jan 2018 16:32

Azerbaijan's Pasha Bank boosts assets 13% in 2017

BAKU. Jan 22 (Interfax) - Pasha Bank, the biggest bank in Azerbaijan by assets, increased assets 13.1% in 2017 to 3.552 billion manat, the bank told Interfax.

The loan portfolio was 943.099 million manat on December 31, an 8.4% rise.

Cash and cash equivalents account for 554.652 million manat of assets, down 29% and amounts due from credit organizations were up 30.2% to 1.447 billion manat.

The bank's liabilities totaled 3.149 billion manat at the end of 2017, up 15.1%.

Customer accounts increased 18.5% to 2.822 billion manat.

Total equity was 402.711 million manat as of December 31, a 0.1% rise and charter capital was unchanged at 333 million manat.

Pasha Bank posted a 58.994 million manat profit in 2017, down 3.2% on last year's result.

Pasha Bank was established in 2007; its shareholders are two companies and one private individual. The bank is part of Pasha Holding.

The official exchange rate on Jan 22 - 1.7001 manat/$1.