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Pasha Bank makes public outcomes of 2010

24 February 2011 13:57 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, 2011, Azerbaijan-based Pasha Bankâ€™s assets stood at AZN 509.074 mln, up 66% compared to a year ago, Farid Akhundov, Chairman of the Board of Directors told at the press conference.

According to him, 36% of AZN 509.074 mln was credits given to customers, 31% - investments in securities, 17% - cash, 15% - interbank credits and other assets. Loan portfolio rose by 1.6 times to AZN 194.860 mln, Effective stock level on portfolio made 6.2%, while this was 2% in 2009. Non-performing loan made 0.6%. Net profit decreased by 27% to AZN 11.694 mln.

He also noted that interest income was AZN 33.842 mln, non-interest income doubled to AZN 5.264 mln, expenditures related to employees increased by 1.7 times to AZN 5.680 mln. Documentary operations stood at AZN 30.330 mln, ROE at 17.6%, ROA at 4%, liquidity ratio at 171%, capital adequacy at 50%.

Speaking about the diversification of loan portfolio Farid Akhundov said that, 49.93% of this was the credit allocated for trade and service sector, 17.91% to construction sector, 14.47% to industry and production sector, 10.26% to hotel business: â€œInvestment in securities rose 86% to AZN 156.5 mln, interbank placements soared 54% to AZN 74.6 mln, Non-interest income from treasury operations rose 105% to AZN 4.1 mln, including trade financing portfolio surged 32% and credit lines by Western banks for Pashabank climbed 29%â€, he said.

Delivering speech at the event Director of the operations department at Pasha Bank Emil Hajiyev said that application of the first scaled project of the bank â€“ modern foreign automated system has been realized successfully. Purposes such as automatization of most operations, broadening of functional spectra and strengthening of controlling system over operations were achieved by the application of Latvian â€œTietoâ€ Companyâ€™s â€œBankSystâ€ automated bank system. All main modules of the system have been put into exploitation for 1.5 year.

To Hajiyev, Tietoâ€™s special card module â€“ Card suite and intersystem interface has been applied during this period as well: â€œConsequently, within the last year, the bank presented Corporative card, Customs Card, Wage, Flexi card and Premium Cardâ€.

Hajiyev noted that Service Center had been established for card owners to get information on services more easily. At present, the service operates within 15 hours, but it will be prolonged to 24 hours.