Azerbaijan, Baku, July 16 / Trend, A. Akhundov/
Pasha Bank of Azerbaijan is working out a three year strategy for the development of its Georgian branch, the Chairman of the bank Board Farid Akhundov told journalists.
" The work on preparation of a strategy for 2014-2017 is being implemented at full speed,"- Akhundov said.
The license for Pasha Bank was provided by the National Bank of Georgia on January 17 of this year, the opening of the office took place on February 8.
"Then, preparations and trainings followed, the bank has been working for one half-year. All of our expectations are coming true. We already have clients and first credits. We will definitely fulfill our plan for our desired volume of assets, loan portfolio, infrastructure and so on," Akhundov said.
Pasha Bank plans to increase the assets of its Georgian branch to $50 billion in 2013. the branch of the bank was opened with 35 million Lari ( $21 million ) worth of charter capital.
According to Akhundov, Pasha bank Georgia will launch internet banking services, which is the main factor of working with corporate clients in Georgia, as distinct from the Azerbaijani market.
Pasha Bank JSC was founded in June, 2007 and has operated under license No 250 of the central Bank of Azerbaijan since November 28, 2007. The main goal of the bank is the strengthening of leadership in the segment of corporate client customer service, qualitative growth of business in strategic fields, as well as the creation and permanent development of long-term and reliable relations.
Pasha Bank JSC, alongside with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction is included in PASHA Holdings, which id an actual investment company, but not a classical holdings firm. The Pasha Group also includes Capital Bank, where 99.75 % of assets goes to the holding.