Posted: 1 year ago

Pasha Bank Continues to Operate at a Loss

Pasha Bank is unable to achieve the desired result with aggressive marketing. Very few users have information on Top Card and it is also very scarce.

"Re|Bank's goal is to simplify and present banking services in the retail sector in a new way", - this stated goal of Pasha is a bit exaggerated.

It is new but not easy. Offers confuse many consumers. Why is any amount paid to the partners of the bank (>2500) divided into 3, 300 GEL, 30 GEL and 3 GEL. Frequently changing stock offers are a bit difficult to understand.

For example: in any partner, allow 10% cashback in Agrohub. The customers learned, they liked it, but when they get used to this good thing, they will get used to the chosen supermarket. The promotion ends then - like the current November promotion (joint with Mastercard).

Until November 30, the buyer gets back 10% of the amount (not more than 50 GEL) on transactions with Google Pay and Top|Card.

The approach is really different. Promotions do not coincide with holidays. They don't follow the international trend of ''Black Friday'' either.

Azerbaijan Pasha Bank has been in losses ever since it launched the re/bank (investment expense). The bank ended the 9 months of 2022 with a loss of 3.6 million GEL. Return on equity (ROE) is negative, -5.54%, and loss on assets is -1%.



Q3.2022 (₾









Source: Commercial Bank