PASHA Bank`s subsidiary in Georgia suffered losses last year – over AZN 5 million


May 5, Fineko/abc.az. The Georgia-based subsidiary of Pasha Bank started operating under a new name.

ABC.AZ reports that this was announced by PASHA Bank’s chairman of board of Taleh Kazimov at a web conference held today.

He noted that since June 2019 the Bank’s subsidiary in Georgia, Pasha Bank Georgia, has started offering retail banking services under a new name.

The chairman noted that speech is about the Red Bank Project.

Kazimov added that the new project increased the expenses of PASHA Bank Georgia. Due to increased expenses, PASHA Bank Georgia finished last year with net loss of AZN 5.47 million.