Azerbaijani broker can enter Turkish stock market

Economy Materials 25 May 2015 14:39 (UTC +04:00)

Baku, Azerbaijan, May 25

By Azad Hasanli - Trend:

PASHA Capital OJSC does not exclude the possibility of entering the Turkish stock market, the company director Jeyhun Hajiyev told Trend May 25.

"We want to create a kind of Baku-Tbilisi-Istanbul triangle, according to our strategy [PASHA Holding strategy]," he said. "A lot of our clients work in both Georgia and Turkey, which made us think about the opening of full-fledged banks in these countries."

PASHA Bank Georgia has been operating since February 2013, and last year PASHA Bank acquired the Turkish TAIB Bank.

"In Turkey, we have an investment bank, that is, our bank has an Investment Banking License, and it is also a member of the Istanbul Stock Exchange, and we can enter the stock market in Turkey through it," he said.

He said that PASHA Capital will not need to obtain a separate license in order to do this.

In January-April 2015, PASHA Capital carried out brokerage worth 570.07 million manats (232.1 million manats in January, 110.3 million manats in February, 125.5 million manats in March, 102.14 million manats in April) at the Baku Stock Exchange.

The official exchange rate for May 25 is 1.0493 AZN / USD.

Since early 2015, the company has been maintaining its leadership in the ranking of brokers of Azerbaijan and only in April yielded to International Transaction System.

The PASHA Capital company was established in July 2012.

Edited by CN


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