PASHA Bank is declared “The Best Bank in Azerbaijan” on year-end results

Business New Europe (BNE) magazine has summarized the results of their annual Eurasian Bank Survey. According to the published results, PASHA Bank was awarded with the title of "The Best Local Bank in Azerbaijan" in 2012.

The Editorial Board of BNE identifies the best banking institutions in the Eurasian markets based on the valuation results obtained from the analysts and representatives of rating agencies in the region with the use of both the financial performance and the efficiency of the development strategy of financial institutions in calculation of results.

During this year PASHA Bank has managed to achieve a range of set goals. So in 2012 for the first time in Azerbaijan PASHA Bank introduced the SafeWatch Filtering program allowing compliance with both the international and the national legislation in the area of anti-money laundering. The Bank also for the first time in Azrbaijan acted as a co-manager for the US $150 million Eurobond issue of Baghlan Group, and none of the private banks in Azerbaijan had co-managed of such a large international debt issue.

It should be also noted that receiving highest rating among all private banks of the country with 100 % local capital (simultaneously ranking second in rating among all private banks of Azerbaijan) from the International Rating Agency Standard & Poor's: long-term and short-term BB- B with "stable" outlook has become a significant breakthrough of the Bank. Towards the end of the year PASHA Bank appeared to be the only bank in the region that had taken part as an exhibitor at the International financial exhibition SIBOS in Osaka.

Business New Europe is available for readers in 30 countries of Central, Eastern and South-Eastern Europe and CIS countries. The magazine has been issued since 2006 and covers economic, political and business trends of the markets of various countries including Azerbaijan.

This yearanother international magazine EMEA Finance announced the list of winners of the European Banking Awards for 2011 and as a result of voting, PASHA Bank was nominated as "The Best Investment Bank of Azerbaijan".