Baku, Azerbaijan, April 3
By Emin Aliyev -Trend:
Azerbaijani PASHA Bank intends to become a bank of the whole region, the bank chairman Farid Akhundov said in an interview with the "The World in 2014" annual supplement of The Economist magazine on April 2.
"Our plans for 2014 coincide with Azerbaijan's goals," he said. "PASHA Bank intends to become a regional bank, to develop a customer base and asset base in various areas in the region. Moreover, we intend to gain profit from the regional development and the growth of international turnover. The goal of the development strategy for 2015-2017 which is being developed in the bank today is to increase the share in all markets, primarily in the Azerbaijani market."
"The Georgian market will be an important part of PASHA Bank's regional plans," he said.
"Our subsidiary in Georgia opened in January 2013," he said. "We strive to become a financial center in all countries where we work."
PASHA Bank Georgia has been operating since January 2013. The authorized capital of the bank, located in Tbilisi, is 35 million lari (about $ 21 million).
Moreover, the bank appealed to the Turkish banking regulation and supervision agency in March this year for permission to purchase a share in Turkish TAIB Bank. TAIB Bank will become PASHA Bank's subsidiary bank and will be renamed. PASHA Bank hopes to get a response from the Turkish banking regulator this year.
PASHA Bank is a leading corporate bank in Azerbaijan. The bank, founded in 2007, renders a wide range of corporate banking services, including loan issuance, transactions on the securities market, asset management and treasury services. The authorized capital of the bank is 228 million manat, while the total capital exceeds 235.2 million manat.
The official exchange rate is 0.7843 AZN/USD on April 3.
Translated by NH
Edited by CN
