Azerbaijan, Baku, Sept. 12 / Trend A. Akhundov /
A new player in the Azerbaijani securities market Pasha Kapital will carry out asset management, PASHA Bank board member, chief administrator on investments Taleh Kazimov said at a press conference on Wednesday.
Pasha Kapital and PASHA Bank are members of the same group of companies - Pasha Holding.
"The company has received a license for broker-dealer activity and will work in these spheres," he said. "In the future we would like to see it as an asset management company."
He added that PASHA Bank will be one of the company's customers.
As of January-June, the portfolio of securities in the structure of the bank's assets is 39 percent.
The bank preserved liquidity at the desired level in the first six months with slight five per cent decline in the securities portfolio (248.71 million manat compared to 260.98 million manat as of late 2011).
Pasha Kapital received a license for dealer and broker activity on August 24, 2012, and became a twelfth member of the Baku Stock Exchange.
PASHA Bank was established in June, 2007 and operates under licence of the Central Bank of Azerbaijan dated Jan.28, 2007.
The Bank, along with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction, is included in the Pasha Holding Company which is actually an investment company, but not a classic holding company.
Kapital Bank is also included in the structure of the Pasha Group. The Holding owns 99.75 per cent of the shares in Kapital bank.
Pasha Bank shareholders are: PASHA Holding with 60 per cent, ADOR Ltd with 30 per cent and Arif Pashayev with 10 per cent.
The official exchange rate is 0.7852 AZN/USD on Sept. 12.