PASHA Bank’s Turkey-based subsidiary doubles net profit

As of April 1, 2019, assets of PASHA Yatirim Bankasi, daughter company of PASHA Bank in Turkey, stood at TRY 1,499,586,000 (AZN 450 million), up 48% from previous year.

Bank says TRY 889.901 million (AZN 267 million) of assets was loans given to customers. Loan portfolio extended by 3.6-fold from previous year.

Liabilities rose by 32.9% to TRY 981.184 million (AZN 294 million), total capital increased by 91.65% to TRY 518.402 million (AZN 156 million), authorized capital grew by 96.1% to TRY 500 million (AZN 150 million).

Interest incomes went up 73% to TRY 37.355 million or AZN 11.2 million, interest expenditures soared 25.2% to TRY 11.938 million or AZN 3.6 million, non-interest incomes declined by 67.9% to TRY 604,000 or AZN 0.2 million, non-interest expenditures ascended by 34.6% to TRY 7.448 million or AZN 2.2 million, allocations for special reserves on compensation of possible loans on assets grew by 5.95-fold to TRY 2.017 million or AZN 0.6 million, profit tax climbed 2.1-fold to TRY 3.752 million or AZN 1.1 million. Consequently, the bank ended the first quarter of 2019 on TRY 12.408 million or AZN 3.8 million on profit, up twofold from 2018.

PASHA Yatirim Bankasi was established in 2015.