Audit report on Pasha Bank’s activity in 2010 made public

Audit report on Pasha Bank’s activity in 2010 made public
# 07 March 2011 11:29 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Ernst $ Young international Audit company has made public the outcomes of Pasha Bank’s activity in 2010.

Bank says the assets rose 67% to AZN 512.304 mln. Of this, 37% was the loans given to customers, 31% - securities portfolio, 26$ - cash funds, 5% - interbanks loans and other assets. Total loan portfolio increased by 1.6 times to AZN 196.081 mln, Effective reserves rate made 4.2%. Share of non-performing loan stood at 0.6%. Operating revenue soared 34% to AZN 30.334 mln.

Net profit slipped 14% to AZN 13.871 mln. This was caused by decrease of average interest rates on lending and changes in assessment methodology of stock fund on interbank and financing of customers at the bank. Interest income made AZN 33.842 mln, non-interest income was AZN 5.258 mln and expenditure related with employees remained at AZN 5.680 mln. Total documentary operation (including post-financing) made AZN 37.116 mln.

ROE (Return on Equity) stood at 18.2%, Return on Assets – at 4.1%, capital adequacy – at 62% and liquidity rate – at 171%.

Pasha Bank has been in operation since 2007. The bank operates 6 ATMs and 56 POS-terminals across the country.
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THE OPERATION IS BEING PERFORMED