Past Year Was Record-Breaking For Azerbaijan's PASHA Bank - CEO

2024-05-29 08:09:36

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 29. Past year was arecord-breaking year for PASHA Bank, Chairman of the ExecutiveBoard and Chief Executive Officer at PASHA Bank Javid Gouliyev saidduring today's press conference dedicated to the bank's performanceresults for 2023 in Baku, Trend reports.

"We have seen especially record figures in our loan portfolio,income, and profit for the year," he explained.

According to Gouliyev, several key indicators showed significantgrowth from 2021 to 2023.

"Assets increased by 56.3 percent, the loan portfolio grew by46.5 percent, the SME lending portfolio increased by 102.2 percent,client accounts grew by 76.3 percent, total capital increased by104.4 percent, profit rose by 83.7 percent, and income from feesand commissions increased by 78.1 percent.

Moreover, the bank achieved the following results: the SMEsegment issued 298 million manat ($175.29 million) through digitalmodels; 13.8 million manat ($8.12 million) of loans were providedto clients through the Digital Factoring Platform; $50.8 millionwas attracted in subordinated loans; and the total investment incybersecurity amounted to 6.5 million manat ($3.8 million)," headded.

To note, PASHA Bank continues to strengthen its position in thecorporate banking sector and expand cooperation with leading banks,including establishing direct relationships with correspondentaccounts of US banks.

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