The origins of private banking lie in the Swiss financial system of the 18th century, where banks actively managed the assets of affluent Swiss families. The emphasis has always been on establishing long-term and trusting relationships between the private banks and their clients, as well as providing a high level of service, and this has remained a crucial aspect of the industry.

Private banking has spread worldwide and is currently enjoying a global resurgence. It is growing rapidly in Azerbaijan where continual economic development has encouraged many to consider the long-term management and protection of their financial assets.

PASHA Bank was established in 2007 and launched its private banking operation three years later. Since then, PASHA Private Banking has been the pioneer of Azerbaijan's private banking sector.