Azerbaijani PASHA Bank will continue to lobby interests of private busines

Business Materials 28 September 2012 16:26 (UTC +04:00)

Azerbaijan, Baku, Sept. 28 /Trend A. Akhundov/

PASHA Bank will continue to lobby the interests of private business in the country, the head of Bank Administration Farid Akhundov told Trend on Friday.

"We are keen to further improve the business environment, so that the importance of private sector will increase even more. This is why we will continue to lobby the interests of private business and to assist its development", Akhundov said.

In his words, PASHA Bank is a corporative bank and serves not only small companies, startups, but also major famous companies, operating in the market. The bank's strategy is not going to change.

"SME sector (small and medium enterprises) is interesting for us. Today's SME are tomorrow's corporations, this is why we will continue to actively cooperate with them. Treasury operations, retail bank services, bank investment services are also priorities for us. They make up 40 % of bank's operations. This direction is strategic, it is going to develop, we have lots of new projects", Akhundov said.

In his words, Private Banking (for its comparatively rich clients) will remain at the centre of the bank's attention.

"This direction is increasing and developing. The assets are increasing. This business exists in Azerbaijan and it will actively develop. This direction is very interesting, but we especially stress the activities in private sector", Akhundov stated.

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 Holding holds 60 percent of the bank's shares, ADOR ltd- 30 percent, Arif Pashayev- 10 percent.