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PASHA Bank

PASHA Bank is a Baku-based financial institution operating in Azerbaijan, Georgia and Turkey.

We are a regional bank, which is a part of PASHA Holding - a diversified investment group with interest in banking, insurance, property development, construction, tourism and other sectors. As of December 2023, the total assets PASHA Holding are approximately USD 12 billion.

 Since 2013 we began offering a full range of corporate banking products and services to businesses operating in Georgia. As of December of 2023, the Bank’s total assets exceeded GEL 532 million. 11 years 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 aim to achieve new heights together, by contributing to the sustainable growth of each client.

Bank Details

Full name: PASHA Bank Georgia Joint Stock Company 
Mailing address: 37M, Ilia Chavchavadze Avenue, 0179, Tbilisi, 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

To be a contributor to a prominent regional investment group, committed to encouraging a culture of innovation, creativity, best corporate practice, continuity, and respect to all our stakeholders; to be a good corporate citizen and contribute to sustainable economic practices, professional entrepreneurship, and regional business partnership.

Vision

To be a trusted provider of innovative win-win financial solutions in Georgia and an integral part of a prominent regional strategic investor led by integrity, sound practices, advanced technology, and competent human talent.

Mission and Vision

Mission

To be a contributor to a prominent regional investment group, committed to encouraging a culture of innovation, creativity, best corporate practice, continuity, and respect to all our stakeholders; to be a good corporate citizen and contribute to sustainable economic practices, professional entrepreneurship, and regional business partnership.

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

Rovshan Allahverdiyev

Chairman of PASHA Bank Supervisory Board

Kamala Nuriyeva

Member of PASHA Bank Supervisory Board

Shahin Mammadov

Member of PASHA Bank Supervisory Board

George Glonti

Senior Independent Member of PASHA Bank Supervisory Board

Ebru Ogan Knottnerus

Independent Member of PASHA Bank Supervisory Board


Rovshan Allahverdiyev

Chairman of PASHA Bank Supervisory Board

Mr. Rovshan Allahverdiyev graduated from the Azerbaijan State University of Economics, Department of Economics and Sociology of Labor.

Mr. Allahverdiyev began his career as a Leading Specialist at Khayal Cooperative Bank in 1992. In the same year, he served as a Leading Specialist and Chief Accountant at Garagayabank Commercial Bank.

He joined Arkobank JSB in 1996 as a Deputy Chief Accountant and served as a Director of Finance and Deputy CEO, respectively.

Mr. Allahverdiyev joined Zamin Commercial Bank as a Deputy Director of Credit Department in 2002 and later served as Finance-Credit Department Director and Deputy CEO at Caucasus Development Bank in 2002, respectively.

He worked as a Branch Manager at Texnikabank between 2003-2006, as a Branch Manager at Kapital Bank between 2006-2007, and as a Deputy CEO at PASHA Bank OJSC between 2007-2013. He has been serving as the CEO and the Chairman of the Executive Committee at Kapital Bank OJSC from June 11, 2013 till May 2023.

Mr. Allahverdiyev was appointed as the Deputy CEO and Director of Corporate Banking and Insurance at PASHA Holding LLC on May 05, 2023. 

He serves as a member and chairman of the Supervisory Board of companies within the PASHA group.  

Rovshan Allahverdiyev joined PASHA Bank Georgia as a Board Member on September 12, 2023.

He has 31 years of experience in banking and business administration.

Kamala Nuriyeva

Member of PASHA Bank Supervisory Board

Ms. Kamala Nuriyeva obtained her Bachelor’s degree in Banking Management from Western University in 1998, and her Master’s degree in Finance from Azerbaijan State Economic University in 2003.

In 2003, she joined the Agricultural Rural Investment Fund, established under the TACIS program for agricultural industry development in Azerbaijan, serving as a Loan Officer. There, she was responsible for attracting customers, as well as loan origination and management. That same year, she was recruited by Unibank OJSC to work as a Financial and Treasury Control Officer, where she was responsible for currency and market risk management. During 2004-2005, she served McDermott Caspian Contractors Inc. as a Cost Control Officer for the fabrication and installation of Central Azeri Offshore Platforms. In 2005, she joined the Bank of Baku OJSC as a Deputy Chief Accountant responsible for accounting activities and management reporting.

She joined PASHA Bank in 2007 as an Internal Audit Manager and was promoted to Head of the Risk Management Department in 2011. In 2012, she moved to PASHA Holding as an Audit and Monitoring Manager. In 2013, she was appointed as the Director of Group Risk Management at PASHA Holding. She has continued her professional activities as the Chief Risk and Audit Executive in the Shareholders’ Office since May 2021. 

She has vast experience working as a member of the Supervisory Board, Audit Committee, Risk Management Committee, and Investment Committee of companies within the PASHA group. 

Ms. Nuriyeva joined PASHA Bank Georgia as a Supervisory Board and Risk Management Committee Member effective September 12, 2023.

She has more than 27 years of experience in banking and business administration.

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

Senior 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 Non-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, 2018 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.
Effective from December 31, 2019 Mrs. Ebru Ogan Knottnerus is the Chairperson of the Risk Management Committee

Board of Directors

Ramil Imamov

Chairman of the Board of Directors, CEO of PASHA Bank Georgia

Parvin Mammadov

Member of Board of directors, CFO

Anzor Mantskava

Member of the Board of Directors, Chief Operating Officer

Levan Aladashvili

Member of Board of Directors, Chief Risk Officer


Ramil Imamov

Chairman of the Board of Directors, CEO of PASHA Bank Georgia

Ramil Imamov is an accomplished banking professional with a strong track record. He holds both a Bachelor’s and master's Degrees in Economic Regulation from Azerbaijan State Economic University.

His career began at Bank of Baku OJSC, starting as a Specialist in the Micro Finance and Mortgage Section and later as a Branch Manager at Bank Respublika OJSC, where he managed sales and ensured service quality.
In 2010, he joined Kapital Bank OJSC as the Director of the Branch Network Management Department, overseeing retail operations.

In 2018, Mr. Imamov assumed the role of Chief Retail Sales Officer at Kapital Bank OJSC. He successfully managed multiple departments and led sales strategies.

Mr. Ramil Imamov was appointed as the Chief Executive Officer and Chairman of the Board of Directors of PASHA Bank Georgia starting in October 2023. 

Parvin Mammadov

Member of Board of directors, CFO

Mr. Parvin Mammadov graduated from Economics 9 Eylul University, Turkey, with the bachelor's degree in business administration in 2009.

Mr. Parvin Mammadov graduated Master of Business Administration: MBA UNEC - Baku, Azerbaijan

Mr. Parvin Mammadov in his career worked in Rabita Bank OJSC and in KredAgro NBCO, Baku.

From April 2012 Mr. Parvin Mammadov continued his career as Finance Director of Kapital Bank, Baku.

Mr. Parvin Mammadov joined PASHA Bank Georgia in October 2023 as board of directors and the Chief Financial Officer.
 

Anzor Mantskava

Member of the Board of Directors, Chief Operating Officer

In 2004, Anzor Mantskava received a bachelor's degree in Accounting, Control, Audit from the Tbilisi State University Faculty of Economics. He also earned a Master of Business Administration from Warwick Business School in 2016.

Anzor's 20-year career has been mainly in the financial sector. In 2003, he began working as an audit consultant at UBC International. In 2005, he joined PricewaterhouseCoopers as a financial auditor. In 2006, he took the position of head of the internal audit department at JSC TBC Bank. In 2012, he took over the Department of Customer Experience and Business Process Management at TBC Bank. In 2014, he headed the Operational Risk Management and Information Security Department at TBC Bank.

In 2015, Anzor went to the UK to study at Warwick Business School. As part of his project and thesis, he analyzed and wrote a social media strategy for Nationwide Building Society, the largest British mortgage issuing organization.

In 2016, Anzor returned to Georgia and assumed the position of director of TBC Pay. He and his team significantly increased the company's operations and profitability. He then joined the Anaklia Development Consortium as Operations Director. In this role, he worked with various financial institutions and construction companies on project-related issues.

Anzor was also engaged in various consulting activities with construction companies in Georgia. These activities mainly concerned the improvement of corporate governance in organizations.

Since 2021, he has headed the e-commerce platform extra.ge. In 2023, Anzor Mantskava joined JSC Pasha Bank as a member of the board of directors and head of retail business.

Levan Aladashvili

Member of Board of Directors, Chief Risk Officer

Levan Aladashvili graduated from Tbilisi Technical University and obtained his Bachelor’s degree in Banking in 2005. He has participated in numerous professional training in the areas of risk assessment, risk management, and financial analysis.

He began his professional career at ProCredit Bank Georgia. Between the years 2006-2015, he worked for VTB Bank Georgia in Corporate Banking and Credit Risk Departments.  

From 2015 Levan Aladashvili continued his professional career as Head of Credit Risks Department at PASHA Bank Georgia. In 2019 Mr. Aladashvili was appointed on the position of Deputy Chief Risk Officer.

Since May 17, 2021, Levan Aladashvili holds the position of Chief Risk Officer and Member of the Board of Directors at JSC PASHA Bank Georgia.

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 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:

 

  • Ebru Ogan Knottnerus - Chairperson of Risk Management Committee
  • Kamala Nuriyeva - Member of Risk Management Committee
  • George Glonti - Member of Risk Management Committee

 

Risk Management Committee Statute

Shareholders

OJSC Pasha Bank (Azerbaijan) is the owner of 85.0588% share of PASHA Bank Georgia and PASHA Holding LLC is the owner of 14.9412% share.

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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