PASHA Holding

PASHA Holding LLC

Type	Private
Industry	Financial services
Founded	2006
Headquarters	Baku, Azerbaijan
Area served	Azerbaijan Turkey Russia Georgia
Key people	Mir Jamal Pashayev, CEO [1]
Services	Banking Insurance Construction Hospitality Property Development
Total assets	AZN 500 million (2017)
Number of employees	25,000 (2017)
Website	http://www.pasha-holding.az

PASHA Holding is a privately owned financial corporation with headquarters in Baku, Azerbaijan.

The company is widely represented in sectors as banking, insurance, construction, production of construction materials, tourism and other areas of business. As of 2018, Pasha Holding is the largest financial company in Azerbaijan.^[2]

Companies

The company has two types of investment assets: controlling stakes in PASHA group companies and minority private equity investments.

Headquarters of Pasha Holding located in Port Baku Towers

Companies owned by PASHA Holding include:

• Absheron Hotel Group
• Kapital Bank
• Port Baku Towers
• PASHA Bank
• PASHA Bank Georgia
• PASHA Travel
• PASHA Insurance
• PASHA Life
• PASHA Construction
• PASHA Capital Investment Company
• PASHA Development

PASHA Bank

“PASHA Bank” OJSC which is part of “PASHA” group of companies was organized in June 2007 and is operating under the license dated 28 November 2007 No 250 issued by the Central Bank of the Republic of Azerbaijan."PASHA Bank" OJSC has membership with the Deposits Insurance Fund, Azerbaijan Banker's Association, Baku Inter-bank Stock Exchange (Certificate NoFX-96, 27 June 2008), American Chamber of Commerce in Azerbaijan, the National Entrepreneurship Support Fund of Azerbaijan Republic and Azerbaijan Mortgage Fund.Current volume of paid-in capital of the Bank amounts to 333 million AZN. The total number of its shareholders comprises 2 legal entities and 1 physical person.The bank's shareholders are PASHA Holding Ltd. (60%), Ador Ltd. (30%) and Mr. Arif Pashayev (10%).^[3]

PASHA Travel

PASHA Travel was founded in 2003 as a branch of PASHA Group The company offers booking flights, hotel reservations, transfers and tours, visa services, and the arrangement of corporate events. PASHA Travel is a member of the International Air Transport Association (IATA) and the American Society of Travel Agencies (ASTA).^[4]

PASHA Insurance

PASHA Insurance The Company was founded on March 3, 2006 in line with the legislation of the Azerbaijan Republic. In terms of capitalization (50 mln. AZN) and its own possibilities to hold the risks the Company is the leader of the Azerbaijan insurance market.^[5]

PASHA Life

“PASHA Life Insurance” OJSC, with 25,2 million AZN authorized capital, is a part of “PASHA Holding” Group of Companies, carries out its activity on the basis of the official registration at the Ministry of Taxes of the Republic of Azerbaijan dated 24.11.2010 and the license for provision of services for life insurance dated 14.02.2011 issued by the Ministry of Finance of the Republic of Azerbaijan. “PASHA Life Insurance” currently provides the following classes of insurance products meeting requirements of every customer:

• Term Life Insurance
• Endowment Life Insurance
• Disability Insurance
• Compulsory Insurance against disability as a result of industrial accidents and occupational diseases
• Annuity Insurance
• Critical Illness Insurance

In the near future, in order to strengthen their position in the insurance market on life insurance class, “PASHA Life Insurance” is planning to create new products and is already working in this direction. In the sphere of reinsurance, “PASHA Life Insurance” has been cooperating with leading reinsurance companies. “PASHA Life Insurance” is a member of the Azerbaijan Insurers Association (AIA), and holds the "TÜV Thüringen" ISO 9001:2008 international certificates.^[6]

PASHA Construction

PASHA Construction is a full service development and construction company established to deliver some of the most prestigious projects in Baku. PASHA Construction was launched in November 2006 and has enjoyed phenomenal growth since conception. PASHA Construction portfolio consists of over 1,000,000 SM of projects, with 756,000 SM currently under construction. These developments include retail, residential, office centers, hotels and large mixed use schemes.^[7]

Kapital Bank Arena, home stadium of Sumgayit FK has a capacity of 13,500

Kapital Bank

Sumgayit FK summer camp sponsored by Kapital Bank

Kapital Bank, formerly the United Universal Joint-Stock Bank, was established as a result of the merging three major state banks in Azerbaijan, i.e. Agro-Investment Bank, Industrial-Investment Bank and Savings Bank in 2000. It was rebranded to Kapital Bank in January, 2005. Being a successor of Savings Bank, it dates its history back to 1874 when the first branch of Saving Bank was opened in Baku. The shareholder of the bank is "PASHA Holding" with 99.76%. The Shareholders' Equity announced at the amount of 80 mln. AZN.^[8]

Sponsorship deals

Kapital Bank and Pasha Life have been jointly sponsoring Sumgayit FK, a football team representing Sumqayit city in the Azerbaijani Premier League since 2015. The home stadium of Sumgayit FK, Kapital Bank Arena is named after its sponsor. Pasha Life logo also appears on the official jerseys of the players. Kapital Bank also sponsors the football camps for children that are hosted by Sumgayit FK.

References