PASHA Bank reached TL 897 Million in asset size by the end of 2017.
PASHA Bank closed 2017 with a growth rate over that of the sector. Increasing its assets to TL 897 million with a growth rate of 76 percent compared to the previous year, PASHA Bank reached TL 713 million in the size of cash credits, including leasing receivables, by registering an increase of 77 percent. PASHA Bank's net profit for 2017 was TL 16 million.
Providing its customers with corporate banking services in the triangle that includes Turkey, Azerbaijan, and Georgia, PASHA Bank maintained its steady growth that it has achieved since 2015 in 2017 as well. PASHA Bank, which has PASHA Bank OJSC, the Baku-based regional financial institution, as its principal shareholder, achieved a net profit of TL 16 Million by the end of 2017.
Positioning itself not just as a "financial bridge" for the Turkish companies investing in Azerbaijan and Georgia but also as a "strategic solution partner" and a "guide", PASHA Bank increased its assets to TL 897 million, representing an increase of 76 percent over the previous year, and also increased the size of cash credits, including leasing receivables, to TL 13 Million, registering an increase of 77 percent.
Commenting on the issue, Mr. H. Cenk Eynehan, the PASHA Bank General Manager, stated that this performance of the Bank stemmed from the fact that its experienced employees adopted the principle of establishing effective, sustainable and productive relationships with their customers, along with solution-oriented and multi-faceted boutique services provided to the customers. Addressing the bank's 3-year strategy covering 2018-2020, Mr. Eynehan said: “As PASHA Bank, we have gained a significant momentum in our first strategic timetable by providing funding through project financing to leading companies, particularly in the energy, mining, and construction sectors. In addition, we maintained our support to the real sector through leasing, forfaiting, receivable financing operations by diversifying our core banking activities. On the other hand, we have extended our borrowing maturities by diversifying our funding sources. We continued the issuance of bonds that we had started in 2016 with the issuance of Eurobonds of 5-year maturity that we realized in Azerbaijan last year. The issuance of Eurobonds, which was the first to be carried out by a foreign institution in Azerbaijan, increased the awareness of our bank in the Capital Markets.”
Mr. Eynehan emphasized that they support the investments that would add value to the country by providing resources through long-term financial products with its seasoned human resources and strong capital structure and that PASHA Bank will, thus, maintain the growth momentum it gained in the coming period as well.