Axar.az
UP
24 April 2018


Two more banks may merge in Azerbaijan

Home page Economy
12 Punto 14 Punto 16 Punto 18 Punto

NIKOIL Bank and AccessBank, the two banks with foreign capital in Azerbaijan, are negotiating the merger, a source in the country’s banking market told Trend.

The negotiations are at an early stage, the source noted, adding that NIKOIL Bank’s takeover of AccessBank is being discussed.

AccessBank owns a 100 percent foreign capital. AccessBank’s shareholders include the Black Sea Trade and Development Bank, the European Bank for Reconstruction and Development, the International Finance Corporation, KfW Development Bank, Germany’s LFS Financial Systems and AccessHolding companies.

Although the shareholders of NIKOIL Bank include local companies (Topaz Investments, ISR Holding) and individuals, Vagit Alekperov, head of Russia’s LUKOIL oil and gas company, is the final beneficiary.

It is yet unknown known how the shares of the merged bank will be distributed, considering the presence of such a great number of shareholders, the source noted. It is possible that the foreign shareholders of AccessBank completely sell their shares, said the source.

Despite all this, the bank maintains its stability, as it has a capital of 140 million manat, and the main guarantor is the availability of such a list of foreign shareholders.

NIKOIL Bank has been operating in Azerbaijan since 1994, and AccessBank since 2002.

Date
2017.11.05 / 21:39
Author
Axar.az
Comments
See also

Iranian central bank bans use of cryptocurrencies

Minister: Azerbaijan’s joining OPEC is not on agenda

Bloomberg pledges $4.5m for Climate change

Bitcoin on track of recovery, surges back to $9,000

Porsche executive arrested in ongoing diesel probe

Merkel and Trump may discuss Nord Stream 2

TANAP will be ready to give gas to TAP in June 2019

Working Group on the preparation of consolidated 2017 EIT

Brooklyn Nets owner sells 49 percent stake to Alibaba

US introduces sanctions against seven Russian businessmen

Latest
 
Xocalı soyqırımı — 1992-ci il Bağla
Bize yazin Bağla
ArxivBağla