PASHA Bank Of Azerbaijan Introduces Multiple Cutting-Edge Business Innovations


(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 29. Azerbaijan's PASHABank implemented three new business innovations in 2023, Chairmanof the Executive Board, Chief Executive Officer at PASHA bank JavidGouliyev said during today's press conference dedicated to thebank's performance results for 2023 in Baku, Trend reports.

"PASHA Bank introduced a new service called 'Financial Guide',which automates clients' tax and accounting operations. This is thefirst service of its kind in the banking sector, significantlysimplifying financial reporting and optimizing workflows. Thesecond business innovation is the so-called 'Partner Check'.

Now, companies can obtain general, tax, legal, and data on statetenders about their partners using a taxpayer identification number(TIN). This innovation reduces risks and simplifies the process ofinteracting with partners, improving informational transparency andthe reliability of business relationships," he pointed out.

According to him, the third direction is the 'FinancialManagement Platform'.

"PASHA Bank has developed a platform that optimizes companies'financial management processes. The platform provides real-timedata display for the bank accounts of company groups, offersanalytical charts, and enhances control over financial flows," headded.

To note, PASHA Bank continues to strengthen its position in thecorporate banking sector and expand cooperation with leading banks,including establishing direct relationships with correspondentaccounts of US banks.

PASHA Bank is a prominent corporate bank in Azerbaijan in 2007, it provides a comprehensive array of financialservices, such as asset management, trade financing, and investmentbanking, to a diverse clientele, ranging from large corporations tosmall and medium-sized enterprises.

Meanwhile, at the end of 2023, PASHA Bank's assets stood at8.622 billion manat or $5.07 billion (2.2 percent growth), with theloan portfolio at 2.958 billion manat or $1.7 billion (4.7 percentgrowth), liabilities at 7.809 billion manat or $4.59 billion (35.7percent growth), and the bank's net profit reached 271.551 millionmanat or $159.7 million (3.18 times growth).

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Trend News Agency

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