The Turkish Banking Regulation and Supervision Agency ("BRSA") has granted permission to PASHA Bank OJSC, a leading private Azerbaijani investment and corporate financial institution, to acquire the remaining 20% of PASHA Yatırım Bank A.Ş. shares from Aksoy Holding of Turkey. After this transaction PASHA Bank OJSC becomes the owner 99.9196 percent of PASHA Yatırım Bank A.Ş. in Turkey.
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By establishing a presence in Turkey, PASHA Bank seeks to capitalise on the increased trade and investment flows between Azerbaijan, Georgia and Turkey. With economic activity between these three countries growing, PASHA Bank's Board of Directors saw entering the Turkish market as essential for serving their clients' current and potential banking needs.