PASHA Bank Turkey has completed its capital increase. The procedures for this were concluded with the approval of the Banking Regulation and Supervisory Board. Upon injection of TL 245 million cash by PASHA Holding LLC, PASHA Bank Turkey’s capital has increased to TL 500 million. By this way, 49 percent of PASHA Bank Turkey’s shares have been transferred to PASHA Holding LLC. After this change in the shareholding structure, 51 percent of the Bank’s shares are now owned by PASHA Bank OJSC, and 49 percent by PASHA Holding LLC. In his written statement, H. Cenk Eynehan, the General Manager of PASHA Bank Turkey, said as follows: “Having set ‘being the first bank that comes to mind’ in the Azerbaijan-Georgia-Turkey triangle as a target, we made significant achievements in our initial 3-year period. Not only did we extend financial support to the prominent corporations in energy, mining and construction sectors, we also built commercial and cultural bridges between these three countries. As a requirement of the mission we had undertaken, in our second strategic period we shall — with our strengthened capital structure and highly qualified human resources — continue to contribute to the value-adding investments in our country and to the development of the trade relations in the region.”