PASHA Bank, known as a "financial bridge" within the Türkiye-Azerbaijan-Georgia triangle, has once again demonstrated its success in the financial results of the first half of 2024. Following the growth in the first quarter, PASHA Bank achieved a 34.3% growth in the first half compared to the same period last year, reaching a total asset size of TRY 10.431 billion. PASHA Bank also increased its equity by 63.6% compared to the same period last year, continuing its growth not only in financial success but also through a business model and roadmap that considers environmental and social impacts.
Serving as a "financial bridge" for companies looking to trade and invest within the Türkiye-Azerbaijan-Georgia triangle, and aiming to expand their existing business volume, PASHA Bank has also taken on the mission of being a guide and strategic solution partner in the region. In just 9 years, PASHA Bank has established itself as one of the most powerful investment banks in Türkiye. In 2024, PASHA Bank proudly received the "Great Place To Work" certification and, as a first in Türkiye, launched a digital platform that enables qualified investors to easily participate in bond or asset-backed security issuances. According to the financial results of the first half of 2024, PASHA Bank increased its total assets by 34.3%, its equity by 63.6%, and its cash loans by 14.4% compared to the same period last year. In the first half, PASHA Bank achieved an asset size of TRY 10.431 billion, with a 6-month profit of TRY 255.3 million. Providing insight into the bank's growth performance, PASHA Bank General Manager H. Cenk Eynehan stated, “During our 2024-2026 strategic period, we plan to further enhance our role in financing trade within the Türkiye-Azerbaijan-Georgia triangle by prioritizing sustainability. Since 2020, we have issued TRY 2.8 billion ABS, positioning ourselves as one of the leading banks in this area. In the upcoming period, we will continue to expand our transaction volume in capital markets to further support the real sector. By maintaining our customer-focused approach, we will enhance the diversity of financing options and products tailored to our customers' needs. Additionally, we aim to continually add value to our services and employees by developing our human resources.”
A Contribution of $103 Million to Trade Development
Highlighting the significance of PASHA Bank's contribution to the development of trade between Türkiye, Azerbaijan, and Georgia, H. Cenk Eynehan stated: “PASHA Bank not only serves as a 'financial bridge' for companies looking to engage in trade and investment within the Türkiye-Azerbaijan-Georgia triangle and aiming to expand their existing business volume, but also undertakes the mission of being a guide and strategic solution partner for these companies in the region. In pursuit of this goal, we collaborate with group banks to provide companies with a safer and more comfortable environment to continue their operations, thereby supporting the growth of commercial activity between these three countries. As PASHA Bank, under our mission to enhance regional trade in 2023, we captured a 19% share of the non-oil regional trade. We facilitated a regional transaction volume of $103 million in 2023. We have not only played a significant role in financing investments but also actively participated in money transfers and payment systems over the past year. With our regional collaboration opportunities, along with our innovative perspectives and approaches, we will continue to increase our share in regional trade and the financing of this trade, and we aim to acquire new customers with the same momentum in the upcoming period.”