PASHA Bank did, in line with its steady growth objective, grow 29 percent compared to the same period of the past year, and increased the size of its assets to TL 2.02 billion, and the cash credits by 32 percent. PASHA Bank’s net profit as of the end of June 2020 has been announced as TL 11.1 million.
Serving to contribute to the development of trade between Turkey-Azerbaijan-Georgia, to provide resources and guidance to the businesses that invest in the region, and thus offering investment banking and corporate banking products, PASHA Bank has been growing steadily since 2015 and continued to do so also in the year 2020. PASHA Bank celebrated the fifth anniversary of its incorporation at the beginning of the month of March, and as of the end of June, has made a net profit of TL 11.1 million. The Bank’s assets increased by 29 percent compared to the previous year and reached to TL 2.02 billion and the size of its total cash credits increased by 32% compared to the same period of the past year, and by 27% compared to the year-end, and has been announced as TL 1.38 billion.
The international credit rating organization, Fitch Rating’s, domestic credit rating for PASHA Bank has been “BBB+(tur)” and; JCR Eurasia Ratings’ Corporate Management rating has been 9.20. While until today, diversifying its resource structure through issuing Turkish Lira debt instruments domestically, and US Dollar and Euro denominated debt instruments in Azerbaijan, the sum of such borrowings by PASHA Bank increased by 39% compared to the same period of the past year and reached to TL 633 million.
The Bank did issue Sukuk for the first time in the month of May, in cooperation with Halk Yatirim, and this year it aims to extend the scope of its activities in the field of investment banking and thus has invested in two venture capital funds, and also helped a firm in the agricultural sector obtain resources from capital markets through issuing Asset-Based Securities. PASHA Bank plans to play an active role in the capital markets, also in the following period.