PASHA Holding

PASHA Holding LLC
Native name
 PAŞA Holding
Private
Industry Holding company
Founded 1 November 2006 (2006-11-01)
Headquarters Baku, Azerbaijan
Website www.pasha-holding.az

PASHA Holding is a private investment company based in Baku, Azerbaijan.[1] According to its official website, PASHA Holding deals with insurance, banking, property, development, construction, tourism, and other business.[2] The company was established on November 1, 2006. The corporation is largely controlled by the family of the First Lady of Azerbaijan, Mehriban Aliyeva (born Mehriban Pashayeva).[3]

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

Group companies

Companies owned by PASHA Holding include:

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%).[4]

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).[5]

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 (40 mln. AZN) and its own possibilities to hold the risks the Company is the leader of the Azerbaijan insurance market.[6]

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:

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.[7]

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.[8]

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.[9]


References

  1. ↑ “Company Overview of PASHA Holding LLC”, Bloomberg Businessweek, Accessed 30 Apr 2013
  2. ↑ PASHA Holding website, www.pasha-holding.az, Accessed January 2014
  3. ↑ US embassy cables: Who owns what in Azerbaijan, http://www.theguardian.com/world/us-embassy-cables-documents/245758, accessed 20 March 2014
  4. ↑ PASHA Bank website, http://www.pashabank.az/, Accessed January 2014
  5. ↑ PASHA Travel website, http://www.pashatravel.az/, Accessed January 2014
  6. ↑ PASHA Insurance website, http://www.pasha-insurance.az/, Accessed January 2014
  7. ↑ PASHA Life Insurance website, http://www.pasha-life.az/, Accessed January 2014
  8. ↑ PASHA Construction website, http://pashaconstruction.com/, Accessed 30 Apr 2013
  9. ↑ Kapital Bank website, http://www.kapitalbank.az/, Accessed January 2014
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