Pasha Bank Georgia

What Pasha Bank Georgia does

Pasha Bank Georgia (legally registered as SS Pasha Bank Sakartvelo) is a private joint-stock commercial bank headquartered in Tbilisi, Georgia, founded in 2013 as a wholly-owned subsidiary of PASHA Holding, one of Azerbaijan's largest financial-industrial conglomerates (established 2006 in Baku). The bank provides corporate banking services — primarily business lending, deposits, trade finance, and treasury products — to companies operating in the Caucasus and Caspian corridor, with explicit regional focus on cross-border activity across Azerbaijan, Georgia, and Turkey. It also serves a secondary retail/individual segment for everyday banking and deposits, though corporate clients constitute the primary customer base. Distribution combines a headquarters office and a single branch in Tbilisi with digital channels, principally internet banking at pashaonline.ge and mobile banking applications.

The bank's technology stack centers on digital banking platforms augmented by a PSD2-compliant Open Banking API portal (Account Information Service, Payment Initiation Service, and Funds Availability APIs built on NextGenPSD2, OAuth 2.0, and ISO 20022), biometric remote onboarding via Identomat Inc for facial recognition and identity verification, and a recently deployed VISA B2B Connect integration for international B2B payments. The AI/ML footprint is operational rather than research-driven: NLP-driven transcription and analysis of customer telephone communications, anomaly detection for AML and fraud surveillance, and predictive analytics for creditworthiness. Revenue is generated through traditional banking mechanics — net interest income from the lending book, fees on trade finance and treasury transactions, and margins on corporate deposits — with no platform or subscription-based revenue model. Customer acquisition is structured around enterprise field sales targeting corporate clients, supplemented by participation in regional business forums (notably the Georgia-Azerbaijan Business Forum organized with parent PASHA Holding, SOCAR, and EY).

Financially, the bank reported 2024 total assets of GEL 707 million (33% year-over-year growth, exceeding local market growth by 1.6x), a credit portfolio of GEL 438 million (28% growth), deposits of GEL 394 million (36% growth), regulatory capital of GEL 147 million (20% growth), and net profit of GEL 8.3 million. H1 2025 results show a 54% year-over-year increase in net profit to GEL 4 million and total assets of GEL 621 million. The bank carries an S&P Global B/B long-term and short-term credit rating with a stable outlook, first assigned in November 2024 and reaffirmed in December 2025.

Name

Pasha Bank Georgia

Legal name

სს პაშა ბანკი საქართველო

Website

https://pashabank.ge

Company type

Private

Founded year

2013

Operating status

Operating

Short description

Pasha Bank Georgia is a Tbilisi-based corporate commercial bank, founded in 2013 as a wholly-owned subsidiary of Azerbaijan's PASHA Holding, delivering business lending, deposits, trade finance, and treasury services to companies operating across the Caucasus and Turkey.

Ownership category

akta.pro rank

Product category

Corporate Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Bank Connectivity & Channels (Host-to-host, SWIFT, APIs, EB portals) (FSABAIAF)

Keywords

• Corporate banking services
• Trade finance solutions
• Business lending products
• Open banking API
• International B2B payments

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Corporate Banking Services: Full spectrum of corporate banking services including loans, deposits, trade finance, and treasury products for business clients.
2. Interest Income: Revenue from lending activities including fixed and indexed interest rate credit facilities.
3. Trade Finance: International trade financing services generating fee income.
4. Deposits: Demand deposits and term deposits with various currency options including GEL, USD, EUR.
5. Certificate of Deposit Services: Standard and non-standard discount and interest certificates for legal entities.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Pasha Bank Georgia is a corporate-focused commercial bank that delivers a full spectrum of business banking products and services. Its core offering centers on corporate lending (fixed and indexed-rate credit facilities), trade finance for cross-border commerce, business deposits in GEL/USD/EUR, current accounts and payment cards, treasury and FX products, and certificates of deposit. Services are delivered through a regional branch and head office in Tbilisi supported by digital channels (Business Internet Banking and Mobile Banking) and a PSD2 Open Banking API for third-party integrations.

Product overview

Pasha Bank Georgia operates as a corporate banking institution offering a comprehensive suite of financial services including business loans, trade finance, deposits, and everyday banking products. The bank provides digital banking channels through Business Internet Banking (PashaOnline) and Mobile Banking applications. The product portfolio includes core banking services (loans, deposits, accounts), treasury products, and the PSD2 Open Banking API for third-party integrations. Recent additions include VISA B2B Connect for international corporate payments and instant GEL transfers via internet banking. The bank serves corporate clients in Azerbaijan, Georgia, and Turkey through its regional presence as part of PASHA Holding.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Loans Corporate lending solutions tailored to business needs of legal entities, providing credit facilities with fixed and indexed interest rates to support working capital, expansion, and project financing.
• Trade Finance International trade financing services that facilitate cross-border commerce for corporate clients, including instruments to support imports, exports, and letters of credit across the Caucasus and Turkish markets.
• Business Deposits Demand and term deposit products for business customers offering interest-bearing balances in GEL, USD, and EUR, with options for standard and non-standard discount and interest certificates of deposit for legal entities.
• Everyday Banking (Accounts & Cards) Day-to-day corporate banking services including current accounts and VISA/Mastercard payment cards that support routine business operations, cash management, and card-based payment acceptance and disbursement.
• Treasury Products Foreign exchange and treasury management services for corporate clients, supporting multi-currency cash positioning, FX conversion, and risk management across GEL, USD, and EUR.
• PSD2 Open Banking API PSD2-compliant XS2A API interface offered to third-party providers, providing Account Information Service (AIS), Payment Initiation Service (PIS), and Availability of Funds APIs. API specifications follow the NextGenPSD2 framework, OAuth 2.0, and ISO 20022 standards, with sandbox and production environments supported by eIDAS-compatible QWAC and QSealC certificates.
• VISA B2B Connect International B2B payment service implemented in partnership with Visa to simplify cross-border corporate payments for business clients, leveraging the VISA B2B Connect network to streamline international transfers.
• Business Internet Banking (PashaOnline) Web-based online banking platform (PashaOnline) that allows business customers to manage finances, conduct transactions, view account information, and operate banking services through an internet browser.
• Mobile Banking Mobile applications for iOS and Android that enable business and retail customers to access banking services, manage accounts, and conduct transactions from their mobile devices.
• Instant GEL Transfers Instant interbank transfer service in Georgian Lari (GEL) available 24/7 via Business Internet Banking, enabling real-time corporate and individual transfers to other Georgian banks.
• Certificate of Deposit Services Certificates of deposit offered to legal entities in standard and non-standard formats, providing fixed-term placement options generating fee-based revenue for the bank.

Quantifiable outcome

• 33% asset growth exceeding local market growth by 1.6 times in 2024
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability8 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Bank of New York Mellon (BNY)coreStrategic or Co-development Partner · 16 June 2025PASHA Bank opened a correspondent account in US dollars with one of the world's leading financial institutions, Bank of New York Mellon (BNY), strengthening international banking capabilities.
• Georgia Chess FederationcoreStrategic or Co-development Partner · 6 November 2024PASHA Bank Georgia signed a partnership agreement with the Georgia Chess Federation to support the development and popularization of chess in Georgia. The partnership aims to improve chess teaching standards, support young chess players' development, and promote chess among children and teenagers. This is part of the bank's corporate social responsibility program.
• VisacoreTechnology or Integration · 11 June 2024PASHA Bank and Visa officially signed a partnership agreement for implementing VISA B2B Connect - a new international transfer service to simplify international payments for customers.
• SOCARminorGTM or Marketing PartnerSOCAR participated as partner in Georgia-Azerbaijan Business Forum organized by PASHA Bank and PASHA Holding in Tbilisi.
• EYminorGTM or Marketing PartnerEY participated as partner in Georgia-Azerbaijan Business Forum organized by PASHA Bank and PASHA Holding.
• PASHA HoldingcoreStrategic or Co-development PartnerPASHA Holding is the parent company of PASHA Bank Georgia. It is one of the largest Azerbaijani holdings established in 2006 with headquarters in Baku. Through its subsidiaries, PASHA Holding invests in banking, insurance, construction, IT, real estate development, and tourism industries.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Halyk Bank (Kazakhstan): Large retail and corporate bank in another Caspian/Central Asian economy. Comparable as a regional post-Soviet commercial bank offering corporate and trade-finance services, though at materially larger scale.
• Kapital Bank (Azerbaijan): Azerbaijan-based bank within the PASHA Holding ecosystem (data-transfer partner). Operates as a regional peer within the same corporate parent network and Caspian-region market.
• International Bank of Azerbaijan: State-linked Azerbaijani commercial bank active in corporate and trade finance across the Caspian region. Comparable as a regional competitor pursuing cross-border corporate mandates.
• Ziraat Bank Georgia: Georgian subsidiary of Turkish Ziraat Bank, competing in corporate and trade-finance banking. Comparable in its regional/cross-border banking positioning and corporate customer focus.
• RabitaBank (Azerbaijan): Mid-sized Azerbaijani commercial bank serving corporate and retail clients. Comparable as a regional peer in corporate banking products and Caspian-region customer base.

Broad incumbents

• TBC Bank: Second-largest Georgian bank with both retail and corporate-banking operations. A direct competitor for Georgian corporate deposits and lending, though it operates at much larger scale and has broader geographic presence.
• Bank of Georgia: The largest Georgian bank by assets, offering a full retail and corporate banking franchise. Directly comparable in corporate-banking product set (loans, trade finance, deposits) but at materially larger scale and with broader retail reach.

Direct peers

• PASHA Bank (Azerbaijan): The parent-related Azerbaijan-headquartered bank sharing the PASHA brand and corporate-banking focus. Offers the same PASHA Holding customer network across the Caucasus and Turkey, making it the closest comparable in business model, customer base, and regional positioning.
• ProCredit Bank Georgia: Georgian subsidiary of ProCredit group, focused on business and SME banking. Comparable in its corporate/SME target segment and emphasis on digital banking infrastructure.
• Liberty Bank (Georgia): Mid-sized Georgian commercial bank competing in similar corporate and SME segments. Comparable in offering core corporate banking products within the same Georgian regulatory framework.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat1 record

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pasha-bank-georgia

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pasha Bank Georgia