Baku, Azerbaijan, Jan. 5
By Azad Hasanli – Trend:
PASHA Yatirim Bankasi, a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, is considering expanding its branch network in the country, Turkish media outlets reported citing Cenk Eynehan, the bank’s general manager and member of board of directors.
“In Turkey, PASHA Bank works through its head office, we do not have branches. But being an investment bank, we work mainly with corporate and commercial segments, hence we do not experience problems due to the lack of branches,” he said.
“However, the bank plans to focus on lending to small and medium entrepreneurs as part of the new strategy for 2018-2020, and it is necessary to expand the network of branches to work with them,” he explained.
Eynehan added that PASHA Yatirim Bankasi had 72 active clients in 2016 and this number is expected to increase to 100 by late 2017.
PASHA Bank was established in 2007. The bank has subsidiaries in Georgia and Turkey – PASHA Bank Georgia and PASHA Yatirim Bankasi.
PASHA Bank is a part of PASHA Holding, a major investment company in Azerbaijan widely represented in such sectors as banking, insurance, construction, production of construction materials, tourism and other areas of business.
Kapital Bank, one of the largest banks in Azerbaijan’s retail market, is also owned by the PASHA Group of Companies.