Back to World Map
- Country Name: Azerbaijan
- Assets: AZN 1,375,343
- Profits: AZN 67,859
- Ownership: 99.87% Pasha Holding
- Date Modified: Nov-2015
Syndicated Analyses:Moody's Corporation "Moody's upgrades Azerbaijan-based Kapital Bank's deposit ratings to Ba3" 29-May-2015:
The upgrade of Kapital Bank's ratings reflects its significantly strengthened capitalisation and profitability, providing a sufficient cushion against expected heightening credit losses amidst the currently challenging operating environment in Azerbaijan.Fineko Informational & Analytic Agency "Fitch affirms ratings of Int’l Bank of Azerbaijan, Kapital Bank and PASHA Bank" 15-Dec-2014:
Fitch Ratings has affirmed International Bank of Azerbaijan’s (IBA) Long-term Issuer Default Ratings (IDRs) at ’BB’, and Kapital Bank (KB) and Pasha Bank (PB) at ’B+’. The agency informs that all three banks have Stable Outlooks.Wikileaks Global Intelligence Files "Who owns what in Azerbaijan" 15-Dec-2010:
This cable is the first in a series that will highlight the most powerful families in Azerbaijan, both in terms of economic and political power. In this opening issue, we profile the family of First Lady Mehriban Aliyeva (born Mehriban Pashayeva), and her uncle, former Azerbaijani Ambassador to the United States and current Deputy Foreign Minister Hafiz Pashayev. Mehriban Aliyeva, besides being the wife of the President, is a Member of Parliament and head of the Heydar Aliyev Foundation, a non-transparent organization that bills itself as a vehicle for charitable works. Other members of the Pashayev family hold powerful positions in government and academia, and are associated with powerful business groups outside the energy sector
The Pashayev family controls Pasha Holding, a conglomerate that includes Pasha Bank, Pasha Insurance, Pasha Construction, and Pasha Travel. The family is believed to control several of the top ten banks in Azerbaijan, including Bank Standard and Kapital Bank, in addition to the newest, Pasha Bank.Azeri Report "Corrupt Money Laundered Through Bank Investments In Azerbaijan" 22-Jun-2010:
Creation of financial structures and uncontrolled inflow of capital to those structures have become a popular way of money laundering in Azerbaijan. According to the calculations made by Turan, based on official information, over the last six months, the authorized capital of 11 banks belonging to the government officials has increased by 150 million AZN.
The most capitalized are four banks directly or indirectly belonging to close relatives of the ruling family.
OJSC "Khalg Bank" has increased its capital to 72.8 million AZN, OJSC "Expressbank" - increased by 40% up to 41 million AZN and OJSC "Capital Bank" – by 20% up to 30 million AZN.Wikileaks Global Intelligence Files "Russian Banking Giant Eyes Azerbaijan's Banking Sector" 23-Apr-2007:
Despite its sizeable assets and largest branch system, Kapital Bank is probably the least modern of the leading Azerbaijani banks in terms of corporate governance and overall operations
Kapital Bank is not a favorite among private businesses and consumers, because of a substantial Soviet-era legacy in its culture, corporate governance, and operations.