No plans to merge with other banks – Azerbaijan’s Pasha Bank
Baku, Azerbaijan, March 11
By Azad Hasanli, Anvar Mammadov - Trend:
Azerbaijan's PASHA Bank is not considering the possibility of merging with other banks in the country, head of the bank's board Taleh Kazimov told reporters March 11.
"We have no active plans for consolidation and we are not interested in this," he said. "But if we receive such proposals, we can consider it."
Kazimov added that the bank is not going to open a new structure abroad in 2016.
"It is not a part of our strategy," he said. "We already have banks in Georgia and Turkey and for present, we are not going to open new branches in other countries."
Nevertheless, PASHA Bank intends to expand its presence in Azerbaijan's regions and plans to open a branch in Sumgait city by late 2016, said Kazimov, adding that it will be the first regional branch of the bank.
PASHA Bank is one of the leading corporate banks of Azerbaijan. Established in 2007, it offers all major financial services, including investment banking, trade financing and asset management to a range of clients.