ABOUT PASHA BANK OJSC
PASHA Bank is one of Azerbaijan’s leading corporate banks. Established in 2007, we offer all major financial services, including investment banking, trade financing and asset management to a range of clients, from large corporates to small and medium enterprises. The Bank works particularly closely with companies operating in the non-oil sectors of the economy, including agriculture, transportation, construction and retail, which are vital for helping Azerbaijan to diversify its economy.
PASHA Bank is the largest private bank in Azerbaijan by total equity, and one of the top 5 private banks by assets. As of 1 July, 2014, the Bank’s assets exceeded AZN* 986 million, while its charter capital amounted to AZN 333 million. More detailed information on the Bank’s financial figures can be found in the ‘Financial Reports’ section.
PASHA Bank is headquartered in Baku and has a total of nine business centres across Azerbaijan. In 2013, we opened our first office in Georgia and office in Turkey in 2014. Our long-term regional vision envisages creating interconnected banking operations that will facilitate rapidly growing trade and deal flow between Baku, Tbilisi and Istanbul, the three most vibrant markets of the region.
We strive to be the best performing and most reliable bank in our country and we have been recognised internationally for our work, having been named ‘The Best Investment Bank of Azerbaijan’ in 2011, 2012 and 2013 by EMEA Finance Magazine. At EMEA Finance Magazine's Europe Banking Awards 2013, PASHA Bank also won the award for ‘Best Corporate Social Responsibility (CSR) Programme’. In addition, our private banking division PASHA Private Banking was named the ‘Best Private Bank in Azerbaijan 2013’ by World Finance magazine.
In addition to international industry recognition, PASHA Bank has received strong ratings from international ratings agencies. Standard & Poor's assigned the Bank a long-term rating of 'BB-' and a short-term rating of 'B' with a stable outlook. This is the highest rating of all private banks in Azerbaijan with 100% local capital and the second best rating among all private banks in Azerbaijan. Fitch Ratings also rated PASHA Bank's long-term foreign currency Issuer Default Ratings (IDRs) at 'B+', with a stable outlook.
Today, PASHA Bank is an international team of about 300 people. Members of our team speak a total of 14 languages. We are constantly working to transform the Bank into one of the biggest financial institutions of the region and to enhance the range of international standard products and services that we already offer.
We are part of PASHA Group, a large investment holding based in Azerbaijan, which has assets across a wide variety of sectors, including retail banking, insurance, construction, construction materials and tourism. As one of Azerbaijan’s youngest but largest banks, we constantly keep abreast of financial and technological innovations. We work hard to keep ahead of market trends and adopt international experience and state-of-the-art technology to ensure that we provide the best possible service to our customers.
ABOUT PASHA HOLDING LLC
Established in 2006, PASHA Holding has built its business on the solid foundation of effective management, strong corporate governance and prudent investment decisions. Via its subsidiaries, PASHA Holding invests in the banking, insurance, construction, real estate development and tourism sectors – key pillars of the developing Azerbaijani economy.
PASHA Holding is one of the largest investment corporations in Azerbaijan. Within a few years from the date of its incorporation in November 2006, the activities of PASHA Holding covered a wide range of production and financial fields. Currently, the Holding operates in insurance, banking, construction, tourism and other sectors. Today, PASHA Holding continues to strengthen its positions in the business community. The investment portfolio of PASHA Holding investment group is comprised of controlling interest and minority private equity investments.
Applying the management principles aimed at sustainable development in its business activities, PASHA Holding places a high value on the role and importance of corporate governance. PASHA Holding LLC, through its business units, invests in the development of banking, insurance, construction, tourism and real estate sectors.
As of December 31st, 2017, the total assets of PASHA Holding stood at approximately USD 4.8 billion, while its capital reached approximately USD 1 billion (based on audited IFRS financial statements and the exchange rate is USD/AZN 1.7001). The group operates in three countries, Georgia being its first geographic expansion, which was followed by Turkey. The total number of employees within the Group exceeds 4,200.