Losses of PASHA Bank’s subsidiary in Georgia decreased 12-fold


July 30, Fineko/abc.az. The Georgia-based subsidiary of PASHA Bank (PASHA Bank Georgia) completed the 1st half of this year with loss of 1.426 million lari (AZN 784,000).

ABC.AZ reports that this is by 11.7 times less against the same term of 2020.

Over Jan-Jun PASHA Bank Georgia’s operating income amounted to 17.7 million lari (AZN 9.752 million, 7.8% less than the annual one), operating expenses 20.729 million lari (AZN 11.4 million, 11.6% less), savings on deductions to special reserves 1.51 million lari (AZN 831,000, a year ago created a reserve), unforeseen income 63,000 lari (AZN 35,000, 55.85% more).

As of 1 July of this year, PASHA Bank Georgia’s assets amounted to 413.5 million lari (AZN 227.448 million) that is by 14.7% less than a year ago. Of these, 269.4 million lari (AZN 148.17 million) are net loans given to customers. Over the past part of the year, Bank's loan portfolio has decreased by 5.7%.

Over the reported term PASHA Bank Georgia’s liabilities decreased by 15.8%  to 338.95 million lari (AZN 186.4 million), including the deposit portfolio by 25.25% to 182.76 million lari (AZN 100.519 million), and the balance sheet capital by 9.6% to 74.59 million lari (AZN 41.025 million), including the authorized capital did not change – 103 million lari (AZN 56.65 million).

1 GEL = 0.55 manat