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PASHA Bank

PASHA Bank is a Baku-based financial institution operating in Azerbaijan, Georgia and Turkey, providing corporate and investment banking services to large, medium and small enterprises.


We represent a regional bank, which is a part of PASHA Holding - a diversified investment group with interests in banking, insurance, property development, construction, tourism and other sectors. As of December 31st, 2018, the total assets of PASHA Holding stood at approximately USD 6.3 billion.


We have been operating in Georgia since 2013. As of December 2018, the Bank’s total assets exceeded GEL 327 million. During our short time of operation in Georgia we have received positive feedback from our customers due to the high-quality service we provide and our exclusive business approach. We treat our clients and partners with hospitality and offer them our double attention with a focus on mutual prosperity. We make the interests of our clients the cornerstone of our corporate strategy, and aim to achieve new heights together, by contributing to the sustainable growth of each and every client.

 

Partners

Bank Details

Full name: PASHA Bank Georgia Joint Stock Company 
Mailing address: 2 Leonidze Str. / 1 G. Tabidze Str., Tbilisi, 0105, Georgia

Bank Details:

TIN: 404433671
SWIFT: PAHAGE22

To see the correspondent banking accounts please contact out hotline at (+995 322) 265 000

Mission and Vision

Mission

PASHA Bank is a Baku-based financial institution operating in Azerbaijan, Georgia and Turkey – providing high-quality corporate and investment banking services to large, medium and small enterprises.  We treat our clients and partners with hospitality and double attention focusing on the mutual prosperity. We put their interests at the cornerstone of our corporate strategy, looking to achieve new heights, together and contribute to the sustainable growth of each and every client.

Vision

We strive to contribute to the growth and development of the Georgian and regional economy through funding value accretive projects while providing top-quality service both locally and regionally. We are committed to our long standing philosophy of doing business in ethical, reliable and sustainable manner.

Mission and Vision

Mission

PASHA Bank is a Baku-based financial institution operating in Azerbaijan, Georgia and Turkey – providing high-quality corporate and investment banking services to large and medium-sized enterprises.  We treat our clients and partners with hospitality and double attention focusing on the mutual prosperity. We put their interests at the cornerstone of our corporate strategy, looking to achieve new heights, together and contribute to the sustainable growth of each and every client.

Vision

We strive to contribute to the growth and development of the Georgian and regional economy through funding value accretive projects while providing top-quality service both locally and regionally. We are committed to our long standing philosophy of doing business in ethical, reliable and sustainable manner.

Corporate Governance

Supervisory Board

Farid Mammadov

Chairman of PASHA Bank Supervisory Board

Jalal Gasımov

Member of PASHA Bank Supervisory Board

Shahin Mammadov

Member of PASHA Bank Supervisory Board

George Glonti

Independent Member of PASHA Bank Supervisory Board

Ebru Ogan Knottnerus

Independent Member of PASHA Bank Supervisory Board


Farid Mammadov

Chairman of PASHA Bank Supervisory Board

Farid Mammadov completed his undergraduate education in Political Science at the Baku Social Management and Political Science Institute and earned a master's degree in Political Science from the Academy of Public Administration under the President of the Republic of Azerbaijan.

Having started his banking career in 1999 as credit officer at the United Credit Bank CB, Farid Mammadov served as the Director of the Credits Department at the Bank of Baku OJSC from 2001 to 2010 and subsequently as the Deputy CEO. He started in 2012 to work as the Risk Director within PASHA Holding and served as a Member of the Board of Directors at PASHA Bank OJSC until June 2013 while maintaining his current duties. From this date until February 2017, he served as the First Deputy CEO at the Kapital Bank OJSC. Since February 2017, he has been serving as the Deputy CEO of PASHA Holding LLC and the Director of Business Group. His experience in banking and business management is 18 years.

Farid Mammadov is the Chairman of PASHA Bank Supervisory Board effective June 01, 2017.

Jalal Gasımov

Member of PASHA Bank Supervisory Board

Jalal Gasımov completed his undergraduate degree in economics at Azerbaijan Economy University, received his graduate degree in Economic Relations, at Higher Diplomatic College of Azerbaijan and an MBA degree at Warwick Business School, UK.
Jalal Gasımov has started his banking career at İlkbank OSJC, Azerbaijan in 1999. Between years 2002-2003 he held various positions on finance at private sector companies. He worked in Azpetrol Oil Company as a Finance Director in 2003-2004 and was the Deputy Chairman of the Board of Directors of Azpetrol Holding from 2004 to 2006. He joined the Moscow Office of McKinsey & Company and served as a Consultant in 2006-2007. He held top management duties: CEO in Bank of Baku, Finance Director in CRA Group Companies, and CEO and Chairman of the Executive Board in Unibank between 2007-2015, respectively. Jalal Gasımov joined PASHA Holding as the Head of Banking Group and Deputy CEO in 2015 and also serves as the Chairman of the Supervisory Board of Kapital BANK OSJC.

Jalal Gasimov is a member of Board of Directors of PASHA Bank Turkey. He was appointed a Member of the Supervisory Board of PASHA Bank Georgia on October 26, 2015.

 

Shahin Mammadov

Member of PASHA Bank Supervisory Board

Shahin Mammadov graduated from Azerbaijan State Economic University and received a Bachelor Degree majoring in Accounting and Audit in 2002. In 2004, he was awarded a Master’s Degree from the same university in Accounting and Audit. In 2010 Mr. Mammadov received his Ph.D. in Economics from Academy of Sciences of the Republic of Azerbaijan.
Mr. Mammadov started his career as an accountant in 2003 and was later promoted to Deputy Chief Accountant at Yapi Kredi Bank Azerbaijan (former Kochbank Azerbaijan JSB). He joined Deloitte & Touche in 2005 as Associate Auditor and was subsequently promoted to Audit Manager.
In 2009, Mr. Mammadov was assigned to the position of Director of the Financial Management Department at PASHA Bank Azerbaijan and in 2011 he became Chief Financial Officer and member of the Executive Board. In 2013, he joined the Board of Directors of PASHA Bank Georgia supervising the business development function. In July 2014, Mr. Mammadov was appointed the CEO and Chairman of the Board of Directors at PASHA Bank Georgia. Since March 2015, Shahin Mammadov is a Member of the Supervisory Board of PASHA Bank Turkey. 
In January, 2018 Mr. Mammadov was assigned to the position of Business Support Director and Deputy CEO at PASHA Holding. On March, 1st, 2018 Shahin Mammadov became Member of the Supervisory Board of PASHA Bank Azerbaijan and on May 30th, 2018 became Member of the Supervisory Board of PASHA Bank Georgia.
Mr. Mammadov successfully completed several education programs in a number of top business schools as a part of High Potential Leadership Program organized by PASHA Holding in 2013.
In 2012 Shahin Mammadov enrolled in Harvard Business School’s Program for Leadership Development (Executive Education Program) and in 2013 graduated from this Program completing its Module 1-4. In 2017 he enrolled in and completed Module 5 of Program for Leadership Development of Harvard Business School. Mr. Mammadov obtained Alumni Status from Harvard Business School in July 2017.
Shahin Mammadov is a Member of the Association of Chartered Certified Accountants (ACCA) since 2014.

George Glonti

Independent Member of PASHA Bank Supervisory Board

George Glonti completed his education, BA and MBA, as Financier and Economist, with specialization in Banking, at the Tbilisi State University, in Georgia. 
Having started his banking career in 1992 as an Assistant in International Operations and Documentary Transactions Department in Iberia Bank and later, became head of the same department in 1994 and held this position until 1995. 
During 1995-1996 he continued his career as a Financial Director of TBC Group and Alma TBC; At a time, he also was the Member of the Board of Directors and Credit Committee of TBC Bank. Later, he held the position of Head of International Division in TbilUniversalBank from 1996 to1999. 
Between years 1999-2003 George Glonti was the Managing Partner,CEO, and Shareholder of the UBC International LTD (Audit & Consulting), a company associated with PwC.
In 2003-2005 he was Deputy CEO of People’s Bank of Georgia. In 2005-2008 became Vice President of the National Bank of Georgia and the Member of the NBG Council. From 2008 to 2009 he was a CEO of the People’s Bank of Georgia (presently “Liberty”). In 2009 he became CEO of Kor Standard Bank (presently “Tera Bank”) and held the position until 2013.
In 2013-2014 George Glonti was the Managing Partner and CEO of the Phoenix Capital. From 2014 continued his career as CEO of the Super TV cable television. Since 2014, until the present, he has been holding the position of the Nona-Executive Vice President of GFTC (SWIFT Service Bureau).
In 2018 he became and till present is the Managing Partner at the RSM Georgia Management & Consulting.
On December 31st, 2019 George Glonti was appointed an Independent Member of the Supervisory Board of PASHA Bank Georgia. George Glonti has also been Chairman of Audit Committee since January 1st, 2019.

Ebru Ogan Knottnerus

Independent Member of PASHA Bank Supervisory Board

Ebru Ogan Knottnerus earned her bachelor’s degree in Business Administration at the Middle East Technical University (METU) in Ankara, Turkey. She also completed various executive education programs, such as: Authentic Leadership Development Programme at the Harvard Business School, Strategic Development Programme in London Business School and High Impact Leadership Programme at the Columbia University, USA.
Ebru Ogan Knottnerus started her banking career in 1991 in the Internal Audit Department of PAMUKBANK. Between years 1993-1997, she worked as Financial Control and Budget Planning Manager for FINANSBANK. She held Manager’s position in Foreign Investments Department for DEMIRBANK, during 1997-1999.
In 1999 Ebru Ogan Knottnerus joined OTTOMAN Bank and worked as Head of Risk Management and Internal Control Departments, until 2001. She continued her career at the BBVA Group - GARANTI Bank AŞ as Head of Subsidiaries’ Risk Management Department between 2001-2003 and from 2016 to 2018, she had been holding the position of the Head of Risk Management.
In 2018 Ebru Ogan Knottnerus joined PASHA Investment Bank Turkey as an Independent Board Member. She is a Member of Risk Management Committee and Chairwoman of Audit Committee.
On December 31st, 2018 Ebru Ogan Knottnerus was appointed an Independent Member of the Supervisory Board of PASHA Bank Georgia and since 1st of January 2019, she also has become the member of Audit Committee.

Board of Directors

Arda Yusuf Arkun

​CEO, Chairman of Board of Directors

George (Goga) Japaridze

Member of PASHA Bank Board of Directors, CCO

Chingiz Abdullayev

Member of PASHA Bank Board of Directors, CFO


Arda Yusuf Arkun

​CEO, Chairman of Board of Directors

Mr. Arkun graduated from Hamilton College, New York in 1998 with a double major in Economics and Mathematics. He is also an alumni of Robert College, Istanbul. 

Mr. Arkun joined JP Morgan’s Mergers and Acquisitions team as an analyst in 1998 focusing on Natural Resources and Power industries.

In 2001, Mr. Arkun moved to London, UK and started to work for Inquam Limited, private equity company in telecommunications sector, as a manager in the business development team.

In 2005 Mr. Arkun joined Zapp Mobile (Inquam’s subsidiary in Romania) as the Director of Business Development, Marketing and Strategy.  He led the transaction to sell Zapp Romania to Cosmote in 2009.  After the sale of Zapp Romania, Mr. Arkun was retained by Cosmote as the Strategy advisor to the CEO.  

Mr. Arkun moved to Baku, Azerbaijan in 2010 as the Director of Strategy and Business Development at Capital Resources Advisors. He also served on the Board of Directors of Nar Mobile, B&B TV and Aimroc. Mr. Arkun became the CEO of Aimroc, largest mining company in Azerbaijan, in 2014. He led the transaction of selling Aimroc to Azergold in 2017.

Mr. Arkun joined PASHA Holding as an advisor in August 2017. 

Mr. Arkun has been appointed as CEO, Chairman of Board of Directors of JSC PASHA Bank Georgia from February 1st, 2018.

George (Goga) Japaridze

Member of PASHA Bank Board of Directors, CCO

George (Goga) Japaridze graduated from Tbilisi State University in 1996 with a Bachelor of Science degree in Biology. He went on to receive an MBA from Hofstra University’s Zarb Business School in 2002. In 2016, he enrolled in and in 2017 graduated from Harvard Business School’s Personal Leadership Development Executive Education Program.

Mr. Japaridze began his banking career in 2003 as an associate at Galt and Taggart Securities, the investment banking subsidiary of Bank of Georgia, before taking on the role of senior equity banker at Bank of Georgia in 2005. He held the position of principal banker at the EBRD’s private equity facility from 2006 to 2011. He then moved to the role of Head of Corporate Banking at Bank Republic Société Générale Group. Mr. Japaridze joined PASHA Bank as CCO in January 2014.

In April 2015, he also became a member of the Board of the Directors at PASHA Bank.

Chingiz Abdullayev

Member of PASHA Bank Board of Directors, CFO

Chingiz Abdullayev obtained his bachelor’s degree in Business administration from Western University of Baku, Azerbaijan in 1999 and Master’s degree in Finance at State Economic University of Azerbaijan in 2005.

He started his career at Baku Stock Exchange as the Head of Listing Division in 2000. In 2003 he joined Assurance & Advisory Service of Deloitte and for the following 10 years worked at senior positions with KPMG Russia, Moore Stephens CIS and RSM Georgia with major focus on financial institutions, energy, trade and other industry sectors. 

Chingiz Abdullayev joined JSC PASHA Bank Georgia in 2014 as Head of Financial Management Department. He became the Member of the Board of Directors and Chief Financial Officer on January 13th, 2016.

 

Committees

George Glonti - Chairman of Audit Committee

Shahin Mammadov - Member of Audit Committee

Ebru Ogan Knottnerus - Member of Audit Committee

Jalal Gasımov - Chairman of Strategy and Budget Committee

Murad Suleymanov - Member of Strategy and Budget Committee

Teymur Huseynov - Member of Strategy and Budget Committee

Vugar Akhundov - Member of Strategy and Budget Committee

Elman Eminov - Member of Strategy and Budget Committee

Farid Mammadov - Chairman of PASHA Bank HR and Remuneration Committee

Ayten Abbasli - Member of HR and Remuneration Committee 

Jalal Gasımov - Member of PASHA Bank HR and Remuneration Committee

Jalal Gasimov - Chairman of Risk Management Committee

Farid Mammadov - Member of Risk Management Committee

Ruslan Mammadov - Member of Risk Management Committee

Elman Eminov - Member of Risk Management Committee

Kamala Nuriyeva - Member of Risk Management Committee
 

Committees

The Audit Committee is established with the purpose to assist the Supervisory Board and the Board of Directors in overseeing effectiveness and adequacy of the Bank's internal control and risk management systems, in the selection process of independent audit firms and in communication with them, and in monitoring whether the Bank’s activities are in compliance with the applicable legislative acts.

The Committee is accountable to the Supervisory Board.

The Audit Committee executes its activities within the framework of the Audit Committee Statute.

 

Committee Members

 

  • George Glonti - Chairman of Audit Committee
  • Shahin Mammadov - Member of Audit Committee
  • Ebru Ogan Knottnerus - Member of Audit Committee

 

Audit Committee Statute

The Strategy and Budget Committee is established with the purpose to advise and assist the Supervisory Board in discharging its duties and responsibilities. The Committee provides assurance to the Supervisory Board with respect to preparation of the Bank’s Business Plan in accordance with the strategy formulation process and on preparation of the Annual Budget in accordance with the budgeting process.

The Committee is accountable to the Supervisory Board.

The Committee executes its activities within the framework of the Strategy and Budget Committee Statute. 

 

Committee Members:

 

  • Jalal Gasımov - Chairman of Strategy and Budget Committee
  • Murad Suleymanov - Member of Strategy and Budget Committee
  • Teymur Huseynov - Member of Strategy and Budget Committee
  • Vugar Akhundov - Member of Strategy and Budget Committee
  • Elman Eminov - Member of Strategy and Budget Committee

 

Strategy and Budget Committee Statute

The HR and Remuneration Committee is established with the purpose to provide to the Supervisory Board preliminary examinations and recommendations with respect to priority tasks of the human resources management and remuneration policies.

The Committee is accountable to the Supervisory Board.

The HR and Remuneration Committee executes its activities within the framework of the HR and Remuneration Committee Statute.

 

Committee Members:

 

  • Farid Mammadov - Chairman of PASHA Bank HR and Remuneration Committee
  • Ayten Abbasli - Member of HR and Remuneration Committee 
  • Jalal Gasımov - Member of PASHA Bank HR and Remuneration Committee

 

HR and Remuneration Committee Statute

The Risk Management Committee is established with the purpose to advise and assist the Supervisory Board in discharging its duties and responsibilities, to ensure the effectiveness of the processes and capabilities for identification, assessment, measurement, control, reporting and monitoring over risk.

The Committee is accountable to the Supervisory Board.

The Risk Management Committee executes its activities within the framework of the Risk Management Committee Statute.

 

Committee Members:

 

  • Jalal Gasimov - Chairman of Risk Management Committee
  • Farid Mammadov - Member of Risk Management Committee
  • Ruslan Mammadov - Member of Risk Management Committee
  • Elman Eminov - Member of Risk Management Committee
  • Kamala Nuriyeva - Member of Risk Management Committee

 

Risk Management Committee Statute

Charter of the Bank

Charter - 2017

Charter - 2016

Shareholders

JSC PASHA Bank Georgia is a wholly owned subsidiary of OJSC PASHA Bank (Azerbaijan).

Bank Policies

Corporate Governance

The Supervisory Board of JSC PASHA Bank adopted and approved the Corporate Governance Policy on March 7th, 2016. 
The policy is public and available to all stakeholders. It describes the Bank’s corporate governance structure and provides information about rights and responsibilities of the Bank’s different governing bodies.

Download the full version of the document

 

Code of Ethics

The Supervisory Board of JSC PASHA Bank adopted and approved the Code of Ethics on May 23rd, 2016. 
The code is public and available to all stakeholders. It is an integral part of the  Bank’s corporate governance policy and a set of ethical and moral principles described in the code represents acceptable business conduct for the Bank. 

Download the full version of the document 

 

 

Compliance Policy

The Supervisory Board of JSC PASHA Bank Georgia approved the Compliance Policy on October 9th, 2014. The policy is public and available to all stakeholders. It describes the compliance risks and principles.

Download the full version of the document

Organizational Chart

Please view our organizational chart in PDF format

Financial reports

The Bank’s official auditor: Ernst & Young Georgia LLC


Address: Kote Apkhazi Street 44, 0105, Tbilisi, Georgia
Phone: +995 32 215 88 11
Fax: +995 32 215 88 22
E-mail: [email protected]
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