PASHA Bank has been named the best private bank

PASHA Bank, one of Azerbaijan's largest banks, has been named the "Best Private Bank in Azerbaijan" by World Finance magazine. This award is given to the market leaders of a variety of sectors for their achievements, pioneering approach and adherence to international best practice. Receiving this award underlines PASHA Bank's success in developing these services for the Azeri market.

Mr. Farid Akhundov, Chairman of the Board of PASHA Bank, commented: "We are extremely pleased that PASHA Bank's private banking achievements have been recognised by the international finance community. Our customers currently receive well-balanced and convenient private banking services of the highest international standards, which we are constantly looking to improve. Despite our success in this industry, the Azeri private banking industry is still evolving and cannot yet be compared to its western counterpart. However, being a relatively new player in the market means that we are able to avoid the mistakes western private banks have made over the years."

World Finance established this award in 2007 and the nominees for this award are selected by World Finance magazine readers.