Contributing to the development of trade between Turkey-Azerbaijan-Georgia and bringing Asset Backed Securities (ABS), which has risen as a reliable financial instrument in recent years, together with capital market players, PASHA Bank announced its third quarter figures for 2022. PASHA Bank increased its asset size by 106 percent compared to the same period of the previous year and reached an asset size of TRY 5 billion 665 million.
In order to contribute to the development of trade between Turkey-Azerbaijan-Georgia, to create resources and guide the enterprises investing in the region, providing service in Turkey for 7 years, PASHA Bank continues to be Turkey's leading investment bank with its investment banking, corporate banking and premium banking products. While brokering in the issuance of capital market instruments such as bills, bonds and ABS in the field of investment banking, PASHA Bank provides services to its customers in corporate banking with project finance, leasing, forfaiting, receivable financing, foreign trade financing, cash and non-cash loan products.
Continuing to increase its success every year, PASHA Bank, which strengthened its capital structure by obtaining a USD 25 million subordinated loan from its main shareholder PASHA Holding LLC in October, continued its success in its 3rd quarter balance sheet of 2022. Standing out with its strong capital structure, solid customer portfolio, healthy loan growth and well-equipped human resources, PASHA Bank grew by 106 percent compared to the same period of the previous year and increased its asset size to TRY 5 billion 665 million, its cash loan size increased by 91 percent to TRY 3 billion 588 million, and its total loan size increased by 82 percent to TRY 4 billion 383 million.
In June, JCR Eurasia Rating revised PASHA Bank's Corporate Governance Principles Compliance Rating upwards to 9.24 and its outlook as (Stable), and rated the Bank's National Credit Rating "A(tur)" outlook as "Stable" in September.
Bringing together ABS, the most notable instrument of the last period as an alternative finance source, with capital market players, PASHA Bank continues to support Turkey's leading sectors such as agriculture, automotive and chemistry. PASHA Bank has provided financing support of over TRY 1 billion in total for the agriculture, automotive and chemistry sectors since the first ABS issuance in 2020. In the third quarter of the year, a total of TRY 100 million of ABS was issued for these sectors. PASHA Bank's domestic bond issuances in Turkish Lira, as well as its foreign currency bond issuances in Azerbaijan, reached a size of USD 54 million.
US dollar denominated bonds issued by PASHA Bank are traded on the Baku Stock Exchange.
Expanding its investor diversity with the establishment of the Premium Banking Unit, PASHA Bank succeeded in adding qualified individual investors to its portfolio. As of April, PASHA Bank started to provide private housing loans in TRY, AZN, USD and EURO with the motto "Be a Host, Not a Guest in a Friend Country!" to Azerbaijani citizens who want to own a house in Turkey.