PASHA Bank quintuples net profit 

PASHA Bank ended the first quarter of 2021 with AZN 18.786 million in net profit, showing a 5.4-fold increase in comparison to a year earlier.

In January-March 2021, the incomes rose by 13.3% to AZN 86.94 million, expenditures dropped 2.5% to AZN 49.782 million, allocations for special reserves fell by 38.8% to AZN 12.222 million, profit tax grew by 2.8-fold to AZN 6.15 million.

As of April 1, the bank’s assets stood at AZN 5,669,083,000, which is 19.1% more than the previous year. Of this, AZN 2,156,596,000 makes up net loans given to clients. The loan portfolio extended by 20.2% year-on-year.

Liabilities descended by 19.1% to AZN 5,105.41 million, deposit portfolio soared 22% to AZN 4,206,008,000, net worth surged 19.2% to AZN 563.673 million, authorized capital increased by 6.5% to AZN 354.512 million.

PASHA Bank was established in 2007.