PASHA Bank Georgia JSC is a bank registered in Georgia.[374] [372] Ramil Imamov is chairman and CEO.[1290] Until February 2024, its chairman was Nikoloz Shurgaia, a dual British and Georgian national.[1000] The bank is a subsidiary of Azerbaijan’s OJSC PASHA Bank,[372] and it also owns Re-Bank in Georgia.[424]
In 2023, the beneficial owners of PASHA Bank Georgia were Leyla and Arzu Aliyeva, who owned 70% of the shares between them.[371] [429] The remaining shares were held by their grandfather Arif Pashayev, who owned 19%, and his nephew, Mir Jamal Pashayev, who owned 11%.[371] [429] In 2019, Leyla and Arzu owned 45% each.[373]
In 2022, PASHA Bank Georgia reported losses, a consequence of switching from private banking to retail banking that year.[718] In September 2022, the bank was fined 38,000 Georgian lari ($13,452) for failure to comply with customer risk regulations and failure to present correct documentation to the National Bank of Georgia.[377] [505]
