BAKU, Azerbaijan, September 18. Azerbaijan's PASHA Bank currently has no plans to acquire any local or foreign bank, Deputy CEO of PASHA Bank's Executive Board Bahruz Naghiyev said at a press conference on the bank’s first-half 2026 results, Trend's correspondent reports from the event.
He noted that the bank's current core strategy is to develop economic ties and trade finance between Azerbaijan and its subsidiary banks in Türkiye and Georgia.
"We currently have no plans to acquire any local or foreign banks. Our primary focus is trade finance among Azerbaijan, Türkiye, and Georgia. As you know, PASHA Bank operates subsidiary banks in Türkiye and Georgia. Our main objective for the upcoming strategic period will also be to foster development in economic relations and trade finance among these three countries," Naghiyev pointed out.
The PASHA Bank official also commented on the merger and consolidation processes taking place within Azerbaijan's banking sector.
According to him, the formation of strong, large banks could lead to increased competition within the sector.
"Overall, we highly value the steps being taken in the banking sector. The formation of large, strong banks is a positive development, as it signifies increased competition. Ultimately, it is the customer who benefits—and should benefit—from this heightened competition," he explained.
Naghiyev also noted that consolidation processes in the banking sector could involve various financial institutions.
"This encompasses the entire sector, including PASHA Bank, the International Bank of Azerbaijan, Kapital Bank, and others. Increased competition will inevitably drive development. We support such mergers, whether they are currently being implemented by banks or take place in the future," the bank's official added.
