UniBank Shareholders Unlikely to Change
Azerbaijan, Baku, 24 October / corr Trend N.Ismaylova / "The largest Hungarian OTP Bank
does not enter into the staff of shareholders of Azerbaijani Unibank," Faig Huseynov, CEO of Unibank, said.
"The changes are not expected in the composition of stockholders of UniBank in the near future and the European Bank for Reconstruction and Development (EBRD) does not leave the composition of shareholders," Huseynov said.
EBRD and German Investment Corporation DEG consider the opportunity of leaving the staff of shareholders of Azerbaijani UniBank over one or two years, EBRD said earlier. They posses stake of 15.2% and 8.3% respectively.
In accordance with contracts, which were concluded with EBRD and DEG, they have the opportunity to leave the staff of shareholders of UniBank, starting from 2008. The shares of these institutions can be sold to strategic investors or redeemed by functioning shareholders.
The bank does not exclude the opportunity to sell the stake of EBRD and DEG, and possibly some other minorities, Huseynov said.
"It is their right and we respect it," head of Unibank said.
UniBank is the second largest private bank in Azerbaijan, which held 6% of assets of bank system and five percent of retail deposits at the end of first quarter . The bank is a leader at the market of automobile and mortgage loaning. UniBank became the first Azerbaijani bank, which has institutional investors like EBRD and DEG .
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