BAKU, Azerbaijan, September 18. Azerbaijan's
PASHA Bank currently has no plans to acquire any local or foreign
bank, Deputy CEO of PASHA Bank's Executive Board Bahruz Naghiyev
said at a press conference on the bank’s first-half 2026 results,
Trend's
correspondent reports from the event.
He noted that the bank's current core strategy is to develop
economic ties and trade finance between Azerbaijan and its
subsidiary banks in Türkiye and Georgia.
"We currently have no plans to acquire any local or foreign
banks. Our primary focus is trade finance among Azerbaijan,
Türkiye, and Georgia. As you know, PASHA Bank operates subsidiary
banks in Türkiye and Georgia. Our main objective for the upcoming
strategic period will also be to foster development in economic
relations and trade finance among these three countries," Naghiyev
pointed out.
The PASHA Bank official also commented on the merger and
consolidation processes taking place within Azerbaijan's banking
sector.
According to him, the formation of strong, large banks could
lead to increased competition within the sector.
"Overall, we highly value the steps being taken in the banking
sector. The formation of large, strong banks is a positive
development, as it signifies increased competition. Ultimately, it
is the customer who benefits—and should benefit—from this
heightened competition," he explained.
Naghiyev also noted that consolidation processes in the banking
sector could involve various financial institutions.
"This encompasses the entire sector, including PASHA Bank, the
International Bank of Azerbaijan, Kapital Bank, and others.
Increased competition will inevitably drive development. We support
such mergers, whether they are currently being implemented by banks
or take place in the future," the bank's official added.
