Azerbaijani bank rep: Over 90% of non-lending operations of SMEs carried out through digital channels

The most important strategy direction of Azerbaijan’s PASHA Bank is digitalization. Currently, 99% of transactions for non-lending products for small and medium-sized enterprises (SMEs) are carried out through digital channels, Deputy Chairman of the Bank’s Board of Directors Bahruz Nagiyev said at a press conference on the results of the bank’s activities for six months, Report informs.

“It is important for us to conduct transactions with small and medium-sized businesses through digital channels, and not through traditional methods. Thanks to this, we increased our customer base by 53% in the first half of the year,” he said.

Nagiyev noted that corporate banking is one of the main directions of the bank’s strategy: “Here, as in small and medium-sized businesses, 96% of transactions are carried out through digital channels. Comparing the results of the last six months with the general market, it is safe to say that we managed to maintain our market share in the corporate sector. Our portfolio is 272 million manats ($159.9 million), which means additional 92 million manats ($54.1 million) of financing compared to the same period last year.”