The prices of precious metals decreased in Azerbaijan on Apr.5 compared to the previous price, Trend reports referring to the data published by the Central Bank of Azerbaijan (CBA). The price of gold lowered by 12.0445 manat or $7.08 (0.41 percent) and made up 2,931.463 manat or $1,724.39 per ounce. The price of silver reduced by 0.3069 manat or 18 cents (0.72 percent) and amounted to 42.1592 manat ($24.8). The price of platinum went down by 1.02 manat or $60 cents (0.05 percent) and equaled to 2,060.23 manat ($1,211.9). The price of palladium decreased by 10.2935 manat or $6.05 (0.23 percent) and stood at 4,528.256 manat ($2,663.68). In monthly terms, the price of gold grew by 55.029 manat or $32.37 (1.9 percent) per ounce, silver lowered by 0.68 manat or 40 cents (1.6 percent) per ounce, platinum grew by 149.413 manat or $87.89 (7.8 percent) per ounce, and palladium grew by 537.438 manat or $316.14 (13.5 percent). On an annualized basis, the price of gold rose by 190.0005 manat or $117.76 (6.9 percent), silver grew by 17.6562 manat or $10.39 (72.1 percent), platinum surged by 824.9335 manat or $485.25 (66.8 percent), while palladium spiked by 713.966 manat or $419.98 (18.7 percent). Source: TREND News Agency
Azerbaijan’s PASHA Bank and its two subsidiary banks in Turkey and Georgia ended 2020 with a net profit worth 79.5 million manat ($46.8 million), Chief Financial Administrator and Board Member of PASHA Bank Bahruz Naghiyev said.
Naghiyev made the remark at the press conference dedicated to the results of the bank’s activity last year and the strategic period of 2018-2020, Trend on April 5.
“During the reporting period, the total net profit of three banks increased by three percent compared to 2019,” the chief financial administrator added.
The chief financial administrator also said that the Georgian subsidiary of PASHA Bank ended last year with a loss worth 10.7 million manat which’s $6.3 million (a twofold increase for the year).
The Turkish subsidiary of the bank received a net profit worth 7.6 million manat ($4.5 million) last year (a decrease of one percent for the year).
“While investing in the development of the country’s consumer market, PASHA Bank’s subsidiary in Georgia is at a loss,” Naghiyev said. “But these investments are expected to give results from the next year and the bank will get profit.”
Azerbaijan’s PASHA Bank finished last year with a net profit worth 84.2 million manat ($49.5 million).
Source: TREND News Agency