International Expansion

PASHA Holding in line with the strategic priorities expands regionally. First and foremost Georgia and Turkey are in the focus of the Holding. PASHA Bank in Georgia was granted a license for bank activities by the National Bank of Georgia (NBG) on January 17, 2013 and officially opened on February 8, 2013. As is the case with the Parent Bank, PASHA Bank in Georgia is a full service corporate bank. The Bank's share capital is USD 59 million. As at June 2014the Bank is in the top 10 banks of Georgia by equity and in the top 15 by total assets.

The Bank intends to diversify its customer base across various sectors. The Bank positions itself as a long-term partner for businesses and a right choice for those in foreign trade who want to extend their operations beyond the national borders.

Turkey's Banking Regulation and Supervision Agency approved the acquisition of a majority stake (99,92%) in TAIB Bank by PASHA Bank from Turkey's Aksoy Holding. PASHA Bank has decided to enter the Turkish market to be able to meet potential clients who do business in Azerbaijan, Turkey and Georgia. PASHA Bank is quite confident about that the partnership will yield a successful niche banking platform that will help business to grow both in Turkey and the wider neighborhood.