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PASHA Bank: No plans to set up foreign subsidiaries in 2017

Business Materials 18 October 2016 16:46 (UTC +04:00)
Azerbaijan’s PASHA Bank does not intend to establish subsidiaries in foreign countries in 2017, Taleh Kazimov, chief executive officer and chairman of the bank’s board, said.
PASHA Bank: No plans to set up foreign subsidiaries in 2017

Baku, Azerbaijan, Oct. 18

By Azad Hasanli – Trend:

Azerbaijan’s PASHA Bank does not intend to establish subsidiaries in foreign countries in 2017, Taleh Kazimov, chief executive officer and chairman of the bank’s board, said.

Kazimov made remarks at a press conference in Baku October 18.

"At present, PASHA Bank is represented in Azerbaijan, Georgia and Turkey,” he added. “Our bank was founded nine years ago. We established two subsidiaries during this relatively short period.”

“At present, our task is to set up stable financial structures in Azerbaijan, Georgia and Turkey, so we have no plans to establish subsidiaries in other countries in 2017," Kazimov added.

PASHA Bank was established in 2007. The bank has two subsidiaries in Georgia and Turkey - PASHA Bank Georgia and PASHA Bank Yatirim Bankasi, respectively. PASHA Bank Georgia has been operating since 2013, while PASHA Bank Yatirim Bankasi since 2015.

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