One of Turkey's leading investment banks, PASHA Bank, which has been showing a successful performance since the 7 years it has been operating in Turkey and contributing to the development of trade between Turkey-Azerbaijan-Georgia, has announced the first half figures of 2022. PASHA Bank increased its asset size by 83 percent compared to the same period of the previous year and reached an asset size of 4 billion 803 million TRY.
While PASHA Bank, which has been serving in Turkey for 7 years with its investment banking, corporate banking and premium banking products, in order to contribute to the development of trade between Turkey-Azerbaijan-Georgia, to create resources and guide the businesses investing in the region, acts as an intermediary in the issuance of capital market instruments such as bills, bonds and ABS in the field of investment banking, it provides services to its customers in the field of corporate banking with project finance, leasing, forfaiting, financing of receivables, financing of foreign trade, cash and non-cash loan products.
Continuing its success with its strong capital structure, solid customer portfolio, healthy loan growth and well-equipped human resources after a successful 2021 year, PASHA Bank announced the first half of 2022 figures. Accordingly, PASHA Bank, which closed the month of June with a profit of 104 M TRY, increased its asset size to 4 billion 803 million TL with a growth of 83% compared to the same period of the previous year, its cash loan size to 3 billion 32 million TL with an increase of 64%, and its total loan size to 3 billion 714 million TL with an increase of 61%.
Despite the fluctuations in the markets, within the framework of the Bank's effective loan management, no new non-performing loans were created in the portfolio in the first half of the year, and the ratio of total non-performing loans fell below 1 percent.
In June, JCR Eurasia Rating revised PASHA Bank's Corporate Governance Principles Compliance Rating upwards to 9.24 and its outlook as (Stable).
Bringing together Asset Backed Securities (ABS), which has been on the rise as a reliable financial instrument in recent years, with capital market players, PASHA Bank has provided a total of 855 million TL financing support for the agriculture, automotive and chemical sectors since the first ABS issuance took place in 2020. In the first half of the year, a total of 420 million TL of ABS was issued for the agriculture and automotive 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 Azerbaijan Manat, USD and EURO basis to Azerbaijani citizens who want to own a house in Turkey.