Pasha Bank to open new regional branches in next three years 

Pasha Bank OJSC is planning to launch new business centers in the regions of Azerbaijan in 2021-2023, Taleh Kazimov, CEO of Pasha Bank, said in an online press conference.

According to him, currently, there is no decision to open a concrete branch in any region.

He added that the bank will focus on the opening of branches in the regions so as to support the development of small and medium-sized enterprises (SMEs).

He also spoke about the bank’s plans to increase the capital: “We are planning to attract AZN 49.6 million capital from the shareholders to keep the capital adequacy at 15%.”

In 2020, the authorized capital increased from AZN 333 million to AZN 354.5 million.

Kazimov noted that PASHA Bank’s corporate loan portfolio is planned to increase by AZN 1 billion by implementing the Strategy covering the years 2021-2023. At the same time, the bank will focus on its digital development: “I would like to especially note that we have a plan to increase our corporate loan portfolio from AZN 2 billion to AZN 3 billion, portfolio on the SMEs – to AZN 350 million.”