One of Turkey's leading investment banks contributing to the development of trade among Turkey, Azerbaijan, and Georgia, PASHA Bank has announced its 2021 financials. Growing 63% compared to 2020, PASHA Bank reached an asset size of TRY3 billion 563 million. In the Asset-Backed Securities (ABS) Issuances, where it plays a leading role in the capital markets, it provided a total of TRY296 million financial support to the agriculture and automotive sectors in 2021.
Providing services with investment and corporate banking products in order to contribute to the development of trade among Turkey, Azerbaijan, and Georgia, to provide the businesses investing in the region with resources and guidance, PASHA Bank has announced its financials for the year 2021.
Having completed the year 2021 with a realization above its targets, PASHA Bank increased its asset size to TRY3 billion 563 million by growing 63% compared to 2020, and the size of its cash loans to TRY2 billion 422 million by an increase of 62%, while the share of loans in asset size became 68%. Total size of loans increased by 73 percent to TRY3 billion 155 million. Sustaining its success through its strong capital structure, solid customer portfolio, healthy loan growth and well-equipped human resources, PASHA Bank increased its profit by 50 percent and closed the year 2021 with a profit of TRY47 million.
Bringing together the Asset Backed Securities (ABS), which has been on the rise as a reliable financial instrument in recent years, with capital market players, PASHA Bank contributes to the development of the agricultural and automotive sectors, while offering investors an investment alternative with attractive returns. Having provided a total of TRY385 million in financing support to both sectors since the first ABS issuance in 2020, PASHA Bank realized ABS issuances of TRY296 million in 2021. In addition to the domestic bond issuances of PASHA Bank in Turkish Lira, its bond issuances in Azerbaijan reached a size of USD87 million. Expanding its investor portfolio with the establishment of the Premium Banking Unit, PASHA Bank succeeded in adding qualified individual investors to its portfolio.
The bank's compliance rating with Corporate Governance Principles was also raised to 9.23 by JCR Eurasia Rating, while its national credit rating was determined by the international rating agency Fitch Ratings as A-stable.
Supporting the arts during the 7 years it has been operating in Turkey, PASHA Bank became the official sponsor of the DALINÇ Exhibition, the first leg of the Istanbul Digital Art Festival in 2021, which is a first in Turkey.
Providing information about the 2022 projection, H. Cenk Eynehan, the CEO of PASHA Bank said: “While increasing our funding diversity in line with our sustainable growth target for 2022, we will continue to provide financial resources to our customers, with project financing as our priority. We will continue to bring the resources created by our ABS issuances to the real sector and play an active role in the capital markets. With our goal of contributing to the development of regional trade among Turkey, Azerbaijan, and Georgia and our mission to be the 'First Bank that comes to mind in the Region', we will actively support our customers in the reconstruction of Karabakh in 2022, as we did in 2021.”