PASHA_BANK_ANNUAL REPORT 2023

About the PASHA Group role in diversification of the Azerbaijan economy. PASHA Bank OJSC is among the first three banks in Azerbaijan with respect to total assets. As of 31 December 2022, the Bank’s total equity is registered as AZN 648 million and the totals assets being AZN 9,218 million. PASHA Bank OJSC focuses on creating and developing long‑term supportive relations with the expanding customer base. The Bank aims to provide the highest level of internationally transparent banking services constructed on values of “Integrity, Profitability, Responsibility, Quality and Collaboration”. Adopting a strategic approach for keeping up with the rapidly changing financial markets, PASHA Bank OJSC is a corporation determining the trends in the Azerbaijan banking sector, especially in the digital field. PASHA Bank also aims to create the best employee experience in Azerbaijan and to strengthen its employer profile within the labor market as the most preferred company by the employees countrywide. All of the innovation plans of the Bank are devised with the support of valuable employees for developing and implementing the best. Since 2011, PASHA Bank OJSC has provided high net worth individuals private banking services including deposits, loans and financial planning. PASHA Bank OJSC serves in its Baku‑based Headquarters and its eight branches. The Bank is operating with the vision of generating integrated banking activities aiming at increasing the trade and investment volume between Baku, Tiflis and Istanbul, being the most dynamic markets in the region. The Bank’s first subsidiary, PASHA Bank Georgia, started operations on 17 December 2012. PASHA Bank OJSC is an affiliate of the PASHA Group, which is a large-scale investment holding group, holding important assets in insurance, real estate development, construction, tourism and other lines of business in Azerbaijan. * USD 1 = AZN 1.7 (31 December 2023) PASHA Bank OJSC’s credit rating scores PASHA Bank OJSC’s credit ratings for 2023 were assessed by the international rating agency S&P Global Ratings as “BB-” for long-term and “B” for short- term. PASHA Bank Georgia A subsidiary of PASHA Bank OJSC, PASHA Bank Georgia has offered corporate banking and investment banking services to large, medium and small-sized firms and retail banking products since its establishment in 2013. The Bank is an important player in the fields of corporate and investment banking in Georgia. The Bank provides finance to the leading companies in Georgia and offers financial consulting services. It has also specialized in participating and/or leading the syndications of firms in different sectors. 20 PASHA Bank 2023 Annual Report