16/04/2012EMEA Finance, Prestigious international financial journal, issued the list of Europe Banking Awards 2011 winners. As a result of voting, PASHA Bank was selected the winner in nomination "The Best Investment Bank of Azerbaijan".
The winners of Europe Banking Awards 2011 are determined by the voting, which involves leading international analyst experts - finance analysts and banking consultants. The analysis of banking sector of developing countries' markets takes into account such criteria as asset growth, yield, development of strategic relations, customer service, competitiveness, range of innovative products, etc.
EMEA Finance's CEO Christopher Moore says that PASHA Bank has received this award in light of its high activity in the securities market and a significant contribution to the development of local capital market, alongside with the respective state regulator. "It was the first time we determined the winner in the nomination "The Best Investment Bank in Azerbaijan", and we are glad to know that such award went to the most deserving candidate," said Mr. Moore.
Taleh Kazimov, Member of the Executive Board and Head of Treasury and Institutional Banking, commented in his turn the event by stating that he was very pleased that PASHA Bank's performance in investment business received such a high appreciation of the professional community. "Last year we managed to implement several large-scale projects, and this award from EMEA Finance is a direct indication of the correctness of the development direction we have chosen. Such a prestigious award received by PASHA Bank once again confirms its leading position among the banks of Azerbaijan. This is our first award in this field and we will do our best to ensure that the award in this nomination is not the last," T. Kazimov emphasized.
Let us remind that since early 2011 PASHA Bank has started offering underwriting services to legal entities that was welcomed by the players in the securities market. The Bank issued corporate bonds of 4 issuers in the amount of AZN 70.4 million, among which one was quite remarkable: first experience in the Azerbaijan market of a local commercial bank placing bonds of another bank (in the amount of AZN 20 million). Besides, in 2011 PASHA Bank came forward for the first time as a market maker in the securities market. Already today, through the Baku Stock Exchange (BSE) or Bloomberg-terminal on a daily basis one can observe the prices of purchase/sale of bonds, quoted by the Bank, and directly on the BSE carry out operations on their purchase/sale. At a later stage the Bank plans to reinforce its position of the professional market player by organizing emissions for new issuers, and to develop a secondary securities market, which would definitely affect the development of the securities market in general.
As a whole, securities portfolio of the Bank in 2011 amounted to about 45% (AZN 261 million) of the total assets and 80% of the assets under direct management of the Treasury (AZN 322 million). It is noteworthy that EMEA Finance is a financial periodical of Exporta Publishing & Events Ltd, which provides an overview of events and activities in the international financial sector. The journal is an independent expert edition for a variety of financial institutions and their customers in developing countries of Europe, Middle East and Africa (EMEA).