Azerbaijani bank aims to increase investments in restoration of liberated territories

By Azernews

By Ayya Lmahamad

Azerbaijan's PASHA Bank CEO and Executive Board Chairman Javid Guliyev has said that the bank aims to increase investments in the restoration of liberated lands.

He made the remarks during a press conference on the results of 2021, Azernews reports, citing Trend.

Guliyev emphasized that the bank's development strategy is aimed at investing in the restoration process of liberated territories.

Assets growth

Speaking at the conference, the bank's CFO, Executive Board Member Bahruz Naghiyev stated that PASHA Bank's assets increased by 16.5 percent in 2021. He noted that this figure amounted to almost AZN6.4 billion ($3.7bn) in total terms.

"The bank's loan portfolio amounted to almost AZN2.6 billion ($1.5bn), and obligations to customers exceeded AN5.8 billion ($3.4bn)," he said.

He also mentioned that the bank's turnover in the corporate segment exceeded AZN58.5 billion ($34.3bn), in the SMBs segment to about AZN5.1 billion ($3bn) and in individuals to AZN4.7 billion ($2.7bn).

Naghiyev added that the number of corporate clients of PASHA Bank amounted to 1,999 in 2021, SMBs to 24,467 and individuals to 396,486.

Apple Pay payments

Moreover, Guliyev noted that the number of the bank's customers using contactless Apple Pay payments reached 7,000.

Noting that the bank provided its customers with a service to obtain a loan online in 2021, he mentioned that this platform can be used for both business and consumer lending.

"More than 2,000 loans have been issued through this platform," he said.

The CEO added that the bank's non-cash turnover amounted to 40 percent of its total turnover in 2021.

Products, services in corporate segment

Javid Guliyev also mentioned that the bank plans to develop products and services in the corporate segment in 2022. He stated that it is planned to optimize the bank's services to market requirements and improve accessibility to the financial market.