Baku, Azerbaijan, Nov. 2
By Orkhan Quluzade – Trend:
Turkish Ziraat Bankasi intends to sell its stake in AzerTurkBank, said Huseyin Aydin, director general of Ziraat Bankasi, the Turkish Milliyet newspaper reported November 2.
Aydin added that the bank is negotiating its stake sale with the Azerbaijani Ministry of Finance.
“A deal is expected in the coming days,” he said.
Currently, more than 86 percent of shares in AzerTurkBank are owned by the Azerbaijani government.
Ziraat Bankasi has been operating in the Azerbaijani banking market since 1995 as one of the co-founders of AzerTurkBank, in which the Turkish bank owns 12.37 percent of shares.
The bank’s subsidiary Ziraat Bank International AG owns 1.08 percent in AzerTurkBank.
Ziraat Bankasi, operating since 1863, is Turkey’s largest bank.
The bank is currently operating in Germany, Bosnia and Herzegovina, Russia, Kazakhstan, Turkmenistan and Uzbekistan.
The bank also has offices in the UK, the US, Bulgaria, Georgia, Iraq, Greece, Saudi Arabia and Iran.
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