PASHA Bank’s Turkish subsidiary to increase loan portfolio
Baku, Azerbaijan, Nov. 1
By Orkhan Quluzade, Azad Hasanli – Trend:
PASHA Yatirim Bankasi, a subsidiary of Azerbaijan’s PASHA Bank in Turkey, intends to increase its loan portfolio by 25 percent in 2017, Turkish newspaper Finans Gündem reported citing the bank’s General Manager Cenk Eynehan.
The bank’s net profit amounted to 10 million Turkish liras in January-September 2016, the newspaper reported. As compared to the same period of 2015, the bank’s assets and loan portfolio increased by 35 percent and 50 percent, respectively.
The most important goal in development of investment and banking services in Turkey is to increase the activeness of the Turkish economy and to meet the needs in foreign investments, said the bank’s general manager.
“We try to contribute to industrialization of developing countries, such as Turkey, to improve the welfare in these countries and to create a long term source of investment financing,” Eynehan added.
He noted that PASHA Bank’s priorities in investment banking are consulting services for pooling and investments.
“As for corporate banking, priorities include financing of such sectors as construction, logistics and energy as well as the processing industry and foreign trade operations,” Eynehan added.
Turkey's Banking Regulation and Supervision Agency (BRSA) approved PASHA Bank's purchasing 79.9 percent shares in TAIB Bank, which was renamed to PASHA Yatirim Bankasi, on December 29, 2014. Later, PASHA Bank increased its stake to 99.9 percent. The remaining part belongs to other shareholders.
Pasha Bank is a leading corporate bank in Azerbaijan. The bank, founded in 2007, renders a range of corporate banking services, including issuance of loans, operations in the securities market, asset management, and treasury services.