BAKU, Azerbaijan, September 18. Azerbaijan’s
PASHA Bank expanded its loan portfolio in the main non-oil sector
areas by 13.2% during the first half of 2026, reaching 3.31 billion
manat ($1.94 billion), Deputy CEO of PASHA Bank’s Executive Board
Bahruz Naghiyev said at a press conference on the bank’s first-half
2026 results, Trend‘s correspondent reports from the event.
“Against the backdrop of 6.5% nominal and 1.5% real growth in
the non-oil economy, PASHA Bank continued lending to the main
sectors of the economy,” Naghiyev noted.
According to him, during the reporting period, total lending to
the non-oil sector across the market increased from 42.8 billion
manat ($25.17 billion) to 45.6 billion manat ($26.8 billion).
“PASHA Bank’s non-oil sector loan portfolio stood at 2.9 billion
manat ($1.7 billion) in June 2025 and reached 3.310 billion manat
($1.94 billion) in June 2026. This represents a 13.2% year-on-year
increase,” the deputy CEO pointed out.
Naghiyev also said trade accounted for 22.3% of PASHA Bank’s
non-oil sector loan portfolio, transport for 20%, construction for
12%, information and communications for 2.1%, agriculture for 5.5%,
industry for 16%, and other sectors for 22.1%.
“The transport sector recorded particularly significant growth
in its loan portfolio. Loans to this sector increased from 269
million manat ($158.2 million) to 663 million manat ($390 million),
representing a 146.7% increase,” he added.
The bank official also noted growth in PASHA Bank’s overall
financial indicators.
“In the first half of 2026, the bank’s total assets increased by
1.4% compared with the end of last year, reaching 9.98 billion
manat ($5.871 billion), while its loan portfolio rose 5% to 4.08
billion manat ($2.4 billion). Our capital grew 4.7% to 1.01 billion
manat ($594.1 million),” Naghiyev explained.
He noted that the deposit portfolio decreased by 2% to 7.75
billion manat ($4.559 billion). Interest income increased by 10.2%
to 301.8 million manat ($177.5 million), operating income rose by
1.6% to 225 million manat ($132.4 million), and net income rose
0.6% to 96.5 million manat ($56.8 million).
“We are also continuing our activities in green financing. The
bank’s green loan portfolio stands at 36.8 million manat ($21.6
million), of which 64.1% has been allocated to green transport
projects,” the deputy chairman emphasized.
Naghiyev also touched on PASHA Bank’s IPO process.
“One of the key events during the reporting period was the
successful completion of the IPO process. The subscription rate for
this IPO, the first of its kind in Azerbaijan’s private banking
sector, reached 129%,” he said.
According to him, the total subscription amount under the IPO
was 66.3 million manat ($39 million), while the placement amount
stood at 51.3 million manat ($30.2 million).
“A total of 17,960 unique investors participated in the IPO.
This figure demonstrates the broad investor interest in capital
markets and the bank’s shares,” Naghiyev added.
