PASHA Bank’s Turkish subsidiary to start crediting of SMEs
Baku, Azerbaijan, Jan. 5
By Azad Hasanli – Trend:
PASHA Yatirim Bankasi A.S., a subsidiary of Azerbaijan’s PASHA Bank OJSC in Turkey, plans to start crediting of small and medium enterprises (SMEs), Turkish media reported citing the bank’s General Manager Cenk Eynehan.
Eynehan said that the bank will focus on crediting of trade and corporate clients in 2017, which is envisaged in its strategy for 2015-2017.
“We will continue to study our opportunities in the sphere of investment banking, but as for the retail banking, this is a quite different sphere, and it should be assessed well,” said the general manager. “We plan to make a relevant decision this year.”
Today, added Eynehan, Turkish companies have a great demand for investments in their share capital.
“In this context, we conduct negotiations with three companies, and plan to complete talks with two of them this year,” he said.
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.