Royal Bank of Baku Plans to Expand its Presence in Financial Sector of Ukraine

Business Materials 28 November 2007 13:30 (UTC +04:00)

Ukraine, Kiev / corr Trend Z.Novosvitskiy / The Royal Bank of Baku, an Azerbaijani-based bank, is planning to expand its presence in the banking sector of Ukraine, said Arzu Aliyeva, the head of the International Juridical Department of the Royal Bank of Baku, while speaking to the first bank forum of member-countries of the Black Sea Economic Cooperation (BSEC), which was held in Kiev.

However, a final decision has not been made yet regarding whether the Royal Bank of Baku will establish a new bank or will buy one of the banks already functioning in Ukraine.

Presently, the Royal Bank of Bank is setting up its corresponding relationships with the banks of Ukraine, particularly with the Nadra and Khreshatik banks. Moreover, the Royal Bank of Baku also plans to develop its activities in several other countries, such as Moldova, Belarus, Turkmenistan and Kazakhstan.