PASHA Bank, one of the strongest investment banks in Türkiye, announced its 3rd quarter financials. Accordingly, PASHA Bank, which grew by 51.4 per cent in the 3rd quarter compared to the same period of the previous year, reached an asset size of TRY 8 billion 580 million. PASHA Bank's cash loan size reached TRY 5 billion 359 million after the international rating agency JCR upgraded its Long Term National Corporate Credit Rating from 'A (tr)' to 'A+ (tr)'.
PASHA Bank, which has been operating in Türkiye for 8 years in order to contribute to the development of trade between Türkiye- Azerbaijan- Georgia, has become one of the strongest investment banks in Türkiye in a short time. Recently, SAHA Rating raised PASHA Bank's Corporate Governance Principles Compliance Rating to 9.39 and the international credit rating agency JCR raised the bank's Long Term National Corporate Credit Rating from 'A (tr)' to 'A+ (tr)'. PASHA Bank continues to reinforce its "strong bank" image with its strong capital adequacy ratio, country-specific advantages that encourage investment, and the continuity of its well-established risk management organisation. PASHA Bank, which plays an important role in the relations between Türkiye and Azerbaijan and provides housing loans in euro, dollar and manat for Azerbaijani citizens to own a house in Türkiye, also provides its customers doing business in Azerbaijan and Georgia with the opportunity to make transactions in local currencies. PASHA Bank, which has developed many products in the field of investment banking in Türkiye, increased its asset size to TRY 8 billion 580 million in the third quarter. Thus, it grew by 51.4 per cent compared to the same period last year. Cash loan size was TRY 5 billion 359 million and total loan size was TRY 6 billion 412 million. PASHA Bank's net profit increased by 16.5 per cent compared to the same period of the previous year and reached TRY 176 million.
Leaving behind a successful 3 years
Providing information about the 3rd quarter financials of PASHA Bank, which continues its steady growth with its solid balance sheet structure, experienced human resources and effective credit and risk management, PASHA Bank General Manager H. Cenk Eynehan stated the following: “PASHA Bank is a bank that basically undertakes the mission of being a 'financial bridge' for companies wishing to trade and invest in the triangle of Türkiye, Azerbaijan and Georgia and aiming to increase their current business volume, as well as being a guide and strategic solution partner for these companies in the region. In parallel with our boutique service approach and the strategy we have determined, we deal with our customers more quickly and effectively and establish a deeper customer relationship. On the Premium Banking side, we offer investment products to our customers and provide mortgage loans in foreign currency to Azerbaijani citizens. On the Corporate and Commercial Banking side, we offer cash and non-cash loans, leasing, project finance, forfaiting, receivables financing and receivables guarantee products as well as treasury products and foreign trade products and provide our customers doing business in Azerbaijan and Georgia with the opportunity to make transactions in local currencies. On the Investment Banking side, in addition to issuing bonds, bills and Eurobonds, in order to develop and support the Private Sector Debt Securities Market, we intermediate securitisation transactions and bring the real sector together with qualified investors through ABS issuances. As PASHA Bank, we are in the third and final year of our three-year strategy period covering the years 2021-2023. Our Q3 figures show that we are moving forward with a successful strategy."
Leading bank in Asset Backed Securities (ABS) issuance
PASHA Bank has also become the leading bank in Türkiye in terms of ABSs, which have become one of the shining stars among the new era investment instruments in order to support the real sectors. H. Cenk Eynehan stated that they will continue to support the ABSs, which are a lifeline for the real sector, and made the following statements: "As you know, we are one of Türkiye 's leading banks in this field with our alternative investment instrument ABS issuances. 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. Since 2020, when we issued ABS for the first time, we have reached a volume of TL 1 billion 600 million. We will continue to support the real sector with ABSs today and tomorrow as we did yesterday."