PASHA Bank currently has no plans to acquire any local or foreign bank. This was stated by Bahruz Naghiyev, Deputy Chairman of the Executive Board of PASHA Bank, at a press conference dedicated to the bank's results for the first six months of 2026.
He noted that the bank's main strategy now is to develop financing for economic ties and trade between Azerbaijan, Turkey and Georgia, with the participation of its subsidiary banks in Turkey and Georgia.
"Currently, we have no plans to acquire any local or foreign bank. Our main focus is financing trade between Azerbaijan, Turkey and Georgia. As you know, PASHA Bank has subsidiary banks in Turkey and Georgia. During the next strategic period, our main goal will also be to ensure the development of economic ties and trade financing between these three countries," Naghiyev said.
He also touched upon the merger and consolidation processes taking place in Azerbaijan's banking sector.
According to Naghiyev, the formation of strong and large banks could lead to increased competition in the sector. "Overall, we highly appreciate these steps being taken in the banking sector. The formation of large and strong banks is a positive phenomenon. Because it means increased competition. In an environment of intensifying competition, the main beneficiary is and should be the client," he said.
Naghiyev noted that consolidation processes in the banking sector may cover various financial institutions. "This refers to the entire sector, including PASHA Bank, the International Bank of Azerbaijan, Kapital Bank and other banks. Increased competition will inevitably contribute to development. If such mergers are carried out by banks or will be carried out in the future, we support it," he added.
