Azerbaijani Pasha Bank examines ways to enter Turkish banking market
Azerbaijan, Baku, Sept. 25 / Trend A. Akhundov /
Azerbaijani Pasha Bank is considering various variants of activity in the Turkish banking market, the bank told Trend today.
The bank was commenting on media reports on Pasha Bank's participation in negotiations to acquire a stake in Turkey's TAIB Bank.
"Pasha Bank which is already operating in the Georgian market, is considering various spheres within its regional expansion," the bank said. "As for Turkey, we are considering various variants and will take a final decision after the examination of the legal aspects and corporate governance requirement is over. Then we will be able to comment this issue."
The bank's branch in Georgia - Pasha Bank Georgia started its activity in February 2013. Moreover, Pasha Bank is considering an opportunity of entering the Swiss market.
Pasha Bank was founded in June 2007. It operates under the Azerbaijani Central Bank's licence No. 250 dated November 28, 2007.
The main goal of the bank is to strengthen leadership in rendering services to corporate clients, qualitative business growth in priority directions as determined by the strategy, as well as to create and permanently develop long term and reliable relations.
The bank along with Pasha Insurance, PASHA Life, Pasha Travel and Pasha Construction, is included in Pasha Holdings 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 shares in the bank.