Contributing to the development of trade among Turkey, Azerbaijan, and Georgia, PASHA Bank continued to grow in the first half of 2021 as well. Having increased its asset size by 26% in 2020 despite the pandemic, PASHA Bank achieved a 20% growth in the first six months of 2021. Strengthening its position in the Turkish banking sector since 2015 when it started to operate in Turkey, PASHA Bank provided a financing support of TRY 126 million in the first half of the year for the agricultural and automotive sectors through the issuance of Asset Backed Securities, in which it played a leading role.
Providing services with investment banking and corporate banking products in order to contribute to the development of trade among Turkey, Azerbaijan, and Georgia, to guide and to create resources to businesses investing in the region, PASHA Bank announced its 2021 first half financial figures. Having grown by 29% compared to the same period of the previous year and by 20% compared to the end of 2020, PASHA Bank increased its asset size to TRY 2,618 million and reached a cash loan size of TRY 1,849 million, registering an increase of 33% and 24%, respectively. Maintaining its success with its strong capital structure, solid customer portfolio, healthy loan growth and well-equipped human resources, PASHA Bank closed the first half of 2021 with a profit of TRY 26 million.
PASHA Bank progressed towards the goal of diversifying funding sources in the first 6 months. The size of debt instruments increased by 29% compared to the end of 2020, reaching a size of TRY 844 million, with the issuance of bonds and sukuk in Turkish Lira, as well as bond issuances in US Dollars and Euros in Azerbaijan. Expanding its investor portfolio with the establishment of the Premium banking unit, PASHA Bank also added qualified individual investors to its portfolio.
In the first half of the year, JCR Eurasia Rating raised the bank's compliance rating to 9.23, for which the international rating agency Fitch Ratings had determined its national rating as A - stable.
Support provided to agriculture and automotive industries
PASHA Bank, which has acted since 2020 as an intermediary in the provision of funding from capital markets through the issuance of Asset Backed Securities, also held a meeting on "Capital Markets as a Source of Funding and Asset-Based Securities" for the first time in the finance sector in Turkey. Having issued TRY 89 million worth of ABS in 2020, the bank reached a size of TRY 126 million TL with 3 separate issues in the first six months of the year, providing financial resources to the agriculture and automotive sectors. ABS issuances that took place in the difficult conditions of the pandemic period, became the lifeline for the sectors..
The First Bank That Comes to Mind in the Region
Serving with the mission of being the “First Bank that Comes to Mind in the Region” in the triangle of Turkey, Azerbaijan and Georgia, PASHA Bank maintained its mission of being the leading bank in the restructuring process of Karabakh. In the reconstruction process of Karabakh, it stood by the investors with both investment financing and consultancy services to Turkish companies.