"PASHA Holding" LLC's subsidiary bank in Turkey "PASHA Yatırım Bankası Anonim Şirketi" (PASHA Bank Türkiye) plans to attract funds from the stock market of Azerbaijan.
PASHA Bank Türkiye will issue 25,000 interest-bearing, undocumented, named, unsecured bonds with a face value of USD 1,000 each.
Thus, if the full listing of this package is obtained, the total nominal value will cover 25 million dollars.
The document in the issue prospectus or information memorandum states that 6.19 percent annual coupon payments are promised for 18 months.
The main underwriter is "PASHA Capital Investment Company" JSC.
The document states that in 2023, the regulation of the banking sector in Turkey by the banking regulatory body - BRSA and the government has changed. The regulatory changes affecting PASHA Bank Türkiye are as follows: The level of general VAT has been increased from 18% to 20%. This new rate has also affected financial lease transactions involving "PASHA Bank Türkiye" and payment schedules for customers with the new VAT rate have been determined. This change in the VAT rate also affects the prices of the services and goods purchased by the bank, resulting in a price increase.
FINANCIAL REPORT
In 2023, the corporate income tax rate for banks has been raised from 25% to 30%. Like other banks in the banking sector, PASHA Bank Türkiye will pay more taxes on its income in 2022. Despite all these important changes, "PASHA Bank Türkiye" will finish the year 2023 with a better result than its goals and a high profit.
At the same time, the entire banking sector of Turkey ended the year successfully. According to the unaudited information of the reports given to the Turkish Banks Union: in December 2023, the active volume of the Turkish Banking Sector is 23.52 billion. constituted lira. The active volume of the sector is 9.17 billion compared to 2022. lira, i.e. increased by 65%.
On December 6, 2023, the total volume of loans increased by 54%, and the volume of assets increased by 67.4%. During this period, the conversion rate of loans was 1.60%.
Deposits are the largest source of bank funding, and compared to the end of 2022, this indicator increased by 67.6% to 14.85 billion. constituted lira. By the end of 2022, its capital will increase by only 50.9% to 2.12 billion. Lira, the net profit of the sector for the period by December 2023 was 603.63 million TL, and the capital adequacy ratio was 18.85%.
Banker.az
