PASHA Bank, which has been a “financial bridge” for companies that want to trade and invest in the triangle of Türkiye, Azerbaijan and Georgia since the 8 years it has been serving in Türkiye, and continues to grow every year, has announced its first half-year balance sheet for 2023. According to the financial results, the asset size of PASHA Bank reached TRY 7 billion 766 million. PASHA Bank grew by 61.7 percent compared to the same period of the previous year.
PASHA Bank, one of Türkiye's leading investment banks with its investment banking, corporate banking and premium banking products, was established to contribute to the development of trade between Türkiye-Azerbaijan-Georgia, to create resources and guide the businesses investing in the region, announced its first half-year balance sheet for 2023. According to the financial results, PASHA Bank's asset size was TRY 7 billion 766 million, cash loan size was TRY 5 billion 310 million and total loan size was TRY 6 billion 370 million. In this direction, PASHA Bank achieved a significant success by increasing its asset size by 61.7 percent, cash loan size by 75.1 percent and total loan size by 71.5 percent compared to the same period of the previous year. While the leasing rate in loans increased by 194 percent, the net profit of PASHA Bank increased by 33 percent compared to the same period of the previous year. The bank's return on equity was 31.4 percent, with a capital adequacy ratio of 21.9 percent. Maintaining its steady growth with its solid balance sheet structure, experienced human resources and effective credit and risk management, the non-performing loans ratio of PASHA Bank was well below the sector at 0.3 percent.
Our first half figures show that we are taking firm steps towards our goals.
Commenting on the balance sheet performance in the first half of the year, H. Cenk Eynehan, General Manager of PASHA Bank, stated the following: “As PASHA Bank, we are in the third and final year of our three-year strategy period covering the years 2021-2023. After the strong signal we received from our first quarter figures for our year-end targets, our first half figures are an indication of how confidently we are moving in this direction. Our three-year strategy includes achieving healthy and sustainable growth, increasing product diversity, strengthening our role in capital markets and increasing our share in foreign trade financing in the triangle of Türkiye, Azerbaijan and Georgia. As you know, we are one of Türkiye’ s leading banks in this field, with our issuance of alternative investment instrument Asset Backed Securities (ABS). In addition to our ABS issuances for sectors such as agriculture, chemistry and automotive, we broke new ground in Turkish Capital Markets with the "wheat price indexed" ABS issuance, and this new issue was greeted with interest by capital market players. We have reached a volume of TRY 1 billion 608 million since 2020, the year we issued ABS for the first time.
In addition, with our mortgage product that we launched in 2022, we continue to provide mortgage loans in Manat, USD and EUR at attractive rates with terms up to 10 years to Azerbaijani citizens who want to own a house in Türkiye. In the first 6-month period, the demand for housing purchases decreased due to the earthquake disaster and the increase in housing prices, but started to gain momentum again with the start of summer vacation and university enrollment.”
PASHA Bank provides services on the corporate and commercial banking side with cash and non-cash loans, leasing, project finance, forfaiting, receivable financing and receivables guarantee products, as well as treasury products and foreign trade products. provides the opportunity. While the Bank provides its customers doing business in the Azerbaijan and Georgia regions with the opportunity to make transactions in local currencies, it also provides services to individual investors in the field of Premium Banking.