PASHA Bank announces partnership with leading Swiss bank

PASHA Bank, one of the leading corporate banks in Azerbaijan, has successfully completed negotiations with one of the leading Swiss banks - Banque Cantonale de Geneve (BCGE) - on cooperation in the sphere of services private banking.

 As reported in the bank, as a result of corporate and private clients PASHA Bank in Azerbaijan will now be able to enjoy the experience and a wide range of financial products and services BCGE.

"We are very pleased with this development. Following the recent opening of a branch of our Bank in Georgia, this collaboration is another step in our international development. As part of our international plans in the foreseeable future, we are considering our presence in Geneva, and cooperation with such prestigious banks as BCGE, is essential for the development of our services offered Azerbaijan to customers "- said the Chairman of the Board PASHA Bank Farid Akhundov.

"Given the pace of development of business relations between Switzerland and Azerbaijan, we are very interested in the growth of the economy of Azerbaijan. Our partnership with PASHA Bank allows us to "feel the pulse" of the Caucasus, and to establish a mutually beneficial partnership, "- said Chairman of Banque Cantonale de Geneve Blaise Goetschin

 The possibility of private-client PASHA Bank to seek investment and fiduciary bank accounts and use other services of private-Swiss banks, is in full accordance with the legislation of the Azerbaijan Republic, including the "Law on Currency Regulation" and "rules of the currency transactions for residents and non-residents in the Republic of Azerbaijan ", adopted by the Central Bank of the Azerbaijan Republic.

PASHA Bank is one of the leading corporate banks in Azerbaijan. Created in 2007, it provides a range of banking services, including loans, securities operations, private banking, opening of current accounts, cash management and treasury services.

At the head office and four offices PASHA Bank has over 170 employees. In 2012, the international financial magazine EMEA Finance Bank has been declared the "Best Investment Bank of Azerbaijan." In September, the international rating agency Standard & Poor's has assigned PASHA Bank long-term credit rating of "BB-" and short-term rating of "B", with a "stable" outlook. This is the highest rating given to Azerbaijani commercial bank with 100% local capital and the second rating given to a private bank in Azerbaijan.

PASHA Bank is part of the Group's PASHA, large Azeri investment holding company, which also includes substantial assets in insurance, construction, construction materials, tourism and other businesses. PASHA group companies also own capital - one of the largest retail banks in Azerbaijan.

Banque Cantonale de Geneve was established in 1816 and provides high quality services to private clients, corporations and organizations: the usual banking services, banking service for wealthy individuals, wealth management, pension planning, mortgages and loans to the private and public sectors. The bank also conducts operations with securities, new kinds of financial engineering, corporate finance services are performed and the global trade in securities. Outside Switzerland the bank works in France, Dubai and Hong Kong. The bank has 700 employees, and it is registered on SIX Swiss Exchange. -15D -