BAKU, Azerbaijan, October 20. Azerbaijani PASHA Bank's stake in shares of two subsidiary banks has been transferred to PASHA Holding, PASHA Bank board member Murad Suleymanov said, Trend reports.
He spoke at a press conference on the bank's results for the first half of 2023.
"The share of PASHA Bank in the shares of PASHA Bank Türkiye decreased from 51 to 28 percent, and its share in PASHA Bank Georgia decreased from 100 to 92 percent," he emphasized.
PASHA Bank was established in June 2007 and is among the top 3 banks in Azerbaijan in terms of assets. The shareholders of the bank are two legal entities, PASHA Holding (56.82 percent) and Ador (28.18 percent), as well as one individual, Arif Pashayev (15 percent). The bank is part of the PASHA Holding structure.