Azerbaijani "Pasha Bank" to develop new business strategy until 2017

Azerbaijani "Pasha Bank" to develop new business strategy until 2017

Baku, Azerbaijan, May 7
By Emin Aliyev - Trend:

Azerbaijani "Pasha Bank" will finalize a new strategy for its activities by September 2014.

The chairman of bank's board of directors Farid Akhundov made the remarks at the annual press conference dedicated to the results of the bank's activity in 2013.

"New four-year strategy will cover the directions and prospects of our work in the country and in the region as a whole. The development of subsidiaries abroad [in Georgia and possibly in Turkey], ICT projects and other fields are among these areas," he said.

The bank considers the 2013 as a year of investment, according to Akhundov. He said that the priority objective of "Pasha Bank" is improvement and development of regional business.

"We noted the first success of the subsidiary bank in Georgia, in this regard. The four-year development strategy of "Pasha Bank Georgia" was adopted in 2013, and we believe in its prospects. Another interesting market for us is Turkey. We intend to finance trade in the region and take part in the Baku-Tbilisi-Istanbul triangle, which unites business processes in the three countries of our region," Akhundov added.

Pasha Bank is a leading corporate bank in Azerbaijan. Founded in 2007, the bank provides a wide range of corporate banking services including lending, operations in the securities market and asset management and treasury services.

Some 207 people are working at the Pasha Bank represented by the head office and four branch offices. The bank was declared the Best Investment Bank in Azerbaijan by the Europe Banking Awards 2011.

"Pasha Bank" with authorized capital of 333 million manat remains the most capitalized private bank in Azerbaijan.

Pasha Bank is part of the PASHA group of companies, a major investment holding company in Azerbaijan, which is well represented in sectors such as insurance, construction, building materials production, tourism and other business areas. Kapital Bank, one of the largest banks in Azerbaijani retail market also belongs to the PASHA group of companies.

Translated by S.I.
Edited by S.I.

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