PASHA Bank Achieves a Stellar Asset Size of 10.966 Billion TL

Foreks - Operating as a “financial bridge” in the Turkey, Azerbaijan, and Georgia triangle, PASHA Bank continued its strong growth in the third quarter following a robust performance in the first half of the year. Announcing its financials for the third quarter, PASHA Bank reported a growth of 27.8% compared to the same period last year, reaching an asset size of 10 billion 966 million TL.

Having maintained strong growth every year since it began operations in Turkey nine years ago, PASHA Bank revealed its third-quarter financial results. In addition to being a “financial bridge” for companies wishing to trade and invest in the Turkey-Azerbaijan-Georgia triangle and aiming to increase their existing business volume, PASHA Bank has also taken on the role of a guide and strategic partner for these firms in the region. According to the third-quarter financials, the bank achieved a 27.8% growth compared to the same period last year, with an asset size of 10 billion 966 million TL. Furthermore, PASHA Bank increased its equity capital by 72.2% compared to the same period last year, reaching 1 billion 698 million TL. The bank's loan volume also grew by 15.4% compared to last year, with a net profit of 391.3 million TL for the first nine months.

H. Cenk Eynehan, CEO of PASHA Bank, shared insights regarding the bank's growth performance, stating, “In our strategic period covering 2024-2026, we plan to enhance our role in financing trade in the Turkey-Azerbaijan-Georgia triangle by prioritizing sustainability. Since 2020, we have established ourselves as one of the leading banks in the sector by issuing 3 billion 808 million TL in mortgage-backed securities (MBS). So far this year, we have facilitated access to financing for the real sector with an MBS issuance of 1 billion 655 million TL. Moving forward, we will continue to support the real sector by expanding our transaction volume in the capital markets. We will maintain our customer-centric approach and increase the diversity of financing and product options suitable for our clients' needs.”

Highlighting the significance of PASHA Bank's contributions to the development of trade between Turkey, Azerbaijan, and Georgia, H. Cenk Eynehan stated, “Our bank is the only one established in Turkey, with its main shareholders residing in Azerbaijan. As part of PASHA Holding, one of Azerbaijan's leading groups, our bank will continue to serve both local and Azerbaijan-Georgia based firms with banking products, leveraging the strength from our shareholders. In our 2024-2026 strategic period, we will prioritize sustainability and enhance our customer-centric approach by increasing the diversity of financing and product options that meet our clients' needs.” In August of this year, PASHA Bank’s corporate governance rating improved from 9.39 to 9.41 in a rating assessment conducted by SAHA Rating, while its national credit rating was reaffirmed as A+ (tr) by JCR Eurasia Rating in September.