PASHA Holding is an Azerbaijani holding.[2] The revenue in 2023 was 1,3 bilion Euros.[3] It has more than 20,000 employees and total assets of 11 billion Euros.[3] Its CEO is Jalal Gasimov.[4]
 | |
| Company type | Private company |
|---|---|
| Industry | Financial services |
| Founded | 2006 |
| Headquarters | Baku, Azerbaijan |
Area served | Azerbaijan Turkey Georgia Montenegro |
Key people | Jalal Gasimov, CEO[1] |
| Services |
|
| Total assets |  AZN 11.9 billion (2019) |
| Total equity | AZN 2.6 billion (2019) |
Number of employees | 8500+ (2019) |
| Website | http://www.pasha-holding.az |
Group Structure
editMajor holdings of the more than 20 subsidiaries are Kapital Bank (81.08%)[5] and Pasha Bank (71.7498%).[6][7] Among other subsidiaries are Pasha Insurance, Pasha Life and other companies.[2][8] The company operates in Azerbaijan, Turkey, Montenegro, Uzbekistan[9] and Georgia.[8] Pasha Holding owns a 50% stake in the Mandarin Oriental Bodrum Hotel.[10][11] In 2024 Pasha Construction invested 200 million US$ in building a Ritz-Carlton hotel in Tashkent, Uzbekistan.[9]
History
editPasha Holding was founded by Arif Pashayev.[3][12] Arif Pashayevs nephew Mir Jamal Pashayev[13] has been the deputy chairman of the supervisory board of Pasha Bank Azerbaijan and Pasha Investments LLC since the end of 2019.
In October 2016, Jalal Gasimov, now CEO of Pasha Holding,[4] was appointed first deputy director of Pasha Holdings.[14]
In June 2024, Pasha Holding announced a possible IPO in 2025 at the Azerbaijani Stock Exchange, with a possible double listing in Dubai or Turkey.[3]
Controversies
editMehriban Aliyeva (née Pashayeva), is the daughter of the founder of Pasha Group and the first lady of Azerbaijan. According to news sources, she is not involved in the business.[3][15] The company has been embroiled in high-level corruption in Azerbaijan.[2] The company built the Four Seasons hotel in Baku, which involved destroying part of the Baku Fortress Wall of the Inner City.[2]
Social Engagement and Initiatives
editPasha Holding has been partnering with the Baku International Jazz Festival for more than ten years.[16] Pasha Holding invested in Caucasus Ventures together with Azerbaijan's Innovation and Digital Development Agency.[17] It also organises the InMerge Innovation Summit.[18][19]
Pasha Holding also supports the Woman Bazaar Sustainable Development Festival by Gender Hub[20] supporting development of female entrepreneurship.[21]
References
edit- ^ "PASHA Holding website".
- ^ a b c d Altstadt, Audrey L. (2017). Frustrated Democracy in Post-Soviet Azerbaijan. Columbia University Press. pp. 126–127. doi:10.7312/alts70456. ISBN 978-0-231-70456-4. JSTOR 10.7312/alts70456.
- ^ a b c d e Focus Money. "PASHA holding wants to go public (original title, German: PASHA Mischkonzern will an die Börse)".
- ^ a b "Jalal Gasimov, Chief Executive Officer". pasha-holding.az. Retrieved 4 September 2024.
- ^ Kapital Bank. "About Kapital Bank - Section Shareholders".
- ^ KAP Public Disclosure Platform. "KAP Public Disclosure Platform Merkezi Kayıt Kuruluşu AŞ".
- ^ Turkey, Fortune (3 May 2024). "Pasha Bank, Türkiye'deki Faaliyetlerini Güçlendiriyor | Fortune Turkey" (in Turkish). Retrieved 28 May 2024.
- ^ a b Pasha Holdings. "Group Structure".
- ^ a b uz, Daryo. "Azerbaijani Pasha Holding subsidiary to construct $200 mn Ritz-Carlton hotel in Uzbekistan". Daryo.uz. Retrieved 4 September 2024.
- ^ "Azerbaijan's PASHA Holding confirms acquiring stake at Türkiye's largest hotel". Trend.Az. 13 January 2023. Retrieved 28 May 2024.
- ^ alice (28 February 2023). "Revealed: Aliyev family's holding bought 50 percent of a luxury hotel in Bodrum". MEYDAN.TV. Retrieved 28 May 2024.
- ^ OCCRP. "Azerbaijani First Family Big on Banking". OCCRP. Retrieved 4 September 2024.
- ^ Ismayilova, Khadija; Radu, Paul. "The Speakers' Corner". OCCRP. Retrieved 4 September 2024.
- ^ "Personnel changes at PASHA Holding: company`s new director appointed". ABC.AZ (in Russian). Retrieved 4 September 2024.
- ^ Babali, Hafiz; Ismayilova, Khadija (24 March 2017). "Nowhere To Be Found: Firms With Official Ties Absent From Key Azerbaijani Registry". Radio Free Europe/Radio Liberty.
- ^ "18 YEARS PARTNERS". bakujazzfestival (in Azerbaijani). Retrieved 4 September 2024.
- ^ "Azerbaijan's Agency for Innovation and Digital Development, Pasha Holding set up venture capital fund [PHOTO]". Azernews.Az. 14 June 2022. Retrieved 4 September 2024.
- ^ "What is the INMerge Innovation Summit?". Trend.Az. 19 July 2024. Retrieved 4 September 2024.
- ^ "Apple co-founder Steve Wozniak to attend Baku summit". Azernews.Az. 11 August 2023. Retrieved 4 September 2024.
- ^ "Woman Bazaar - Sustainable Development Festival - GHA". www.genderhubaz.org. Retrieved 4 September 2024.
- ^ "Woman Bazaar Sustainable Development Festival organized Gender Hub Azerbaijan social platform successfully completed". Trend.Az. 12 March 2022. Retrieved 4 September 2024.