Azerbaijan, Baku, May 6 / Trend , I.Khalilova/
The Pasa Bank is planning to offer services of the Private Bank'a on the Azerbaijani banking market. Bank will be able to provide the product to the market after amendments to the banking legislation, Pasa Bank Board Chairman Farid Akhundov said. [Pasa Bank was established in June 2007. Bank is operating on the basis of license of the Central Bank of Azerbaijan dating Jan. 28, 2007.]
"The strategy is implemented since 2009 and will cover 2011. The introduction of the Private Banking'a project needs time and the personnel and infrastructure are being developing," Akhundov said.
Pasa Bank offers service to corporative clients, individuals, complex service to families, finances individual business and etc.
"We don't finance the retail sector, and therefore the mortgage crediting will not be included into bank's services. We are offering services to different sectors, but we are watchfulness to the construction sector," Akhundov added.
Bank is interested in large projects including building of business centres. As a whole, Pasa Bank alongside with limits of the Central Bank on large projects is limiting sector service within the bank. Bank shows interest in financing of the agrarian sector, pharmaceutics, trade and transport sector.
"Bank's mission is to be among leaders servicing corporative clients and Private Banking'a," he added.
Bank is ready to cooperate with small companies with yearly turnover to 1 million manat, medium -from 1 to 10 million manat and big companies - 10 million manat.
"We are ready to cooperate with those companies which use new management systems," Akhundov said.
The Pasa Bank enters the group of companies of the PASA Holding. Shareholders of the bank are PASA Holding -60 percent, ADOR ltd - 30 percent and Arif Pashayev -10 percent.
On May 6, the official exchange rate is 0.8036 manat to $1.
Do you have any feedback? Contact our journalist at: [email protected]