Azerbaijani PASHA Bank to continue its expansion in regional countries

Baku, Azerbaijan, May 8

By Emin Aliyev - Trend:

Azerbaijani PASHA Bank intends to continue expansion in regional countries, chairman of board Farid Akhundov told Trend on May 7.

"As for a subsidiary in Georgia, it has been operating more than a year," he said. "Despite the first year of PASHA Bank Georgia's activity was unprofitable, the volume of loss was twofold less than expected. So, the dynamics can be considered positive. We intend to continue working on the development of business in Georgia."

"A subsidiary of the bank in Georgia continues developing," PASHA Bank chief financial administrator Shahin Mammadov said.

"The bank's capital was brought to 103 million lari (over $58.2 million) to accelerate the development," he said. "As a result, PASHA Bank Georgia is among the ten largest banks in Georgia. Their total number is 21."

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 268 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 and Europe Banking Awards-2012, as well as Best Private Bank in Azerbaijan through World Finance in 2013.

Pasha Bank with authorized capital of 333 million manats 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 NH
Edited by CN

Armenia violates ceasefire with Azerbaijan 24 times
Armenia violates ceasefire with Azerbaijan 24 times
Russian MFA: Optimism remains over settlement of Karabakh conflict
Russian MFA: Optimism remains over settlement of Karabakh conflict
Armenia violates ceasefire with Azerbaijan 25 times
Armenia violates ceasefire with Azerbaijan 25 times
Loading Bars
Latest
China reports six new COVID-19 cases, five asymptomatic cases
Telegram messenger restores service after connection issues
UK anti-racism protesters clash with mounted police
Malta accepts over 420 migrants after 40 days at sea
WHO reports single-day increase in coronavirus cases by over 128,000
Hungary, Germany to lift travel restrictions to each other's citizens
Mexico restates commitment to April accord after OPEC+ talks
Afghan gun battle kills 9 militants in eastern Kunar province
Azerbaijan supports extension of OPEC+ deal
OPEC agrees to further extend production cuts
Hundreds of Lebanese join anti-government protests as lockdown eased
Bolsonaro threatens to withdraw Brazil from WHO
Iraq renews its commitment to OPEC+ deal
UK coronavirus death toll rises by 204 to 40,465
Azerbaijan confirms 379 new COVID-19 cases
OPEC, Russia to extend record oil cuts to end of July
Volume of issued mortgage loans increases in Azerbaijan
Deposit liabilities of Georgia's banking system decrease
Uzbekistan, China may set up joint venture for bearing production
Pros and cons of Iran’s new car presale lottery plan
Azerbaijani Central Bank's foreign exchange reserves grow
What to expect from OPEC+ meeting today
Georgia makes changes to Produce in Georgia program
Uzbekistan exports wild cherry to China
Uzbekistan introduces recycling fees for cars
Prices for Iran's petrochemical products down
Iran to supply support packages to population until COVID-19 is curbed
Tires, special vehicles manufacturing launch underway in Kazakhstan's Karaganda
Georgia's Medifari company plans to export facemasks to Israel, Russia, Belgium
Azerbaijan's Pasha Capital - leader in volume of operations on Baku Stock Exchange
Kazakhstan to manufacture petrocemical products from coal
EBRD, TBC Bank implement two mega-center projects in Georgia
Azerbaijani oil prices show mixed change
DHL resumes its operations in Turkmenistan
Azerbajan expanding broadband internet in regions
Turkmenistan to lock deals with foreign companies to buy pest control chemicals
China opens new transport corridor to Uzbekistan
Weekly review of Azerbaijan's precious metals market (May 29-June 5)
Georgia reduces electricity consumption during coronavirus
Pomegranate crop in Azerbaijan surpasses last year's yield
Oversized goods transportation launched to Kazakhstan's Karachaganak
Construction materials export from Uzbek Samarkand region increase
Georgia, Romania eye to boost cooperation opportunities in Black Sea region
Weekly review of Azerbaijani currency market
Baku Higher Oil School to hold online I International Scientific Conferences of Students and Young Researchers
Philippines confirms 7 new coronavirus deaths, 714 more cases
Romania, Georgia work on resuming Constanta - Poti / Batumi ferry connection
Corporate securities transactions rise in Azerbaijan
Wheat harvest kicks off in some regions of Turkmenistan
Georgian municipality predicts potato harvest for this season
How COVID-19 impacts Georgian fuel market?
Kazakhstan's uranium processing venture to buy equipment spare pars via tender
Coronavirus cases up in Georgia
Turkmenistan, Russia set measures to boost co-op in construction sector
Data on petroleum, chemical products manufacturing in Azerbaijan disclosed
China reports three new COVID-19 cases, two asymptomatic cases
Minister: Germany supports Georgia in economic development
Germany's confirmed coronavirus cases rise by 407 to 183,678
Turkmenistan, France discuss trade, economic cooperation
Capex on offshore wind to surpass upstream spending in Europe in 2022
Kazakhstan’s Atyrau refinery opens tender for radio system modernization
Turkey's export to OIC member states shrinks
Transactions on public securities on Azerbaijan's primary market down
Armenia violates ceasefire with Azerbaijan 24 times
Iran's historical cities suffer from lack of foreign tourists, thanks to COVID-19
Georgia's engineering firm Kaya offers additional services
Iranian trucks with goods enter Turkey, following months of closure
Iran plans to transfer gas from Kish field to feed South Pars refinery
Georgia expects rich hazelnut harvest
Thailand reports two new coronavirus cases, no new deaths
Iran to create holdings to control rental houses, apartments
FAO, Azerbaijan to develop new program
Kyrgyzstan reports 38 new COVID - 19 cases, 1974 in total
6.2-magnitude quake hits Kazakhstan -- local department
Bolsonaro threatens to withdraw Brazil from WHO
Small plane crash in U.S. state of Georgia kills 5
S. Korea reports 51 new virus cases, most in 8 days
Chinese mainland reports no new domestically transmitted COVID-19 cases
Chile reports 122,499 COVID-19 cases with 1,448 deaths
Head of Al-Qaida in Islamic Maghreb killed in Mali by French forces: minister
Street near White House renamed ‘Black Lives Matter Plaza’ — mayor
58 more coronavirus patients die in Moscow in past day — crisis center
Some 41,500 National Guard officers on duty in US amid protests
WHO recommends wider use of face masks to curb COVID-19
Facebook says it found no foreign interference targeting U.S. protests
Trudeau takes a knee at anti-racism protest on Parliament Hill
Trump orders 9,500 US troops to leave Germany
Finland's finance minister steps down over training payments
5.2-magnitude quake jolts eastern Turkey
EU countries agree on coordinated, non-discriminatory lifting of travel ban
Turkey: Daily coronavirus recoveries up with over 1,600
UK COVID-19 deaths top 40,000 as another 357 patients die
ADB eyeing agreement signing on road reconstruction in Kazakhstan
Azerbaijan discloses number of coronavirus tests
Italy's COVID-19 death toll up 85 to 33,774
Tourists from Israel may be among first visitors to Georgia
Agent bank of two more liquidated banks chosen in Azerbaijan
Azerbaijan plans to increase Virginia tobacco production
Central Bank of Iran seeks to unfreeze foreign currency sources abroad
Azerbaijan Wine Producers & Exporters Association eyes new markets for export
All news