PASHA Bank Georgia has operated at a loss for two years at a run

12:18 - 6.04.2021

April 6, Fineko/abc.az. PASHA Bank Georgia, a subsidiary of PASHA Bank, completed 2020 with net loss of AZN 10.749 million.

ABC.AZ reports that Bank's losses increased even more.

Thus, the Bank finished 2019 with net loss of AZN 5.47 million.

At a press conference PASHA Bank’s member of board, chief financial administrator Bahruz Nagiyev linked the cause of permanent losses with investments: "For each investment there are stages of investing and receiving income. The cause of the net loss relates with investments. Operating expenses are high compared with the planned revenues. We’ll start to see the fruits of these investments next year."

By Elmir Murad

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