Azerbaijani central bank comments on rumors on merging two banks

Azerbaijan, Baku, October 6 / Trend , I.Khalilova /

Azerbaijani Unibank and AtaBank are quite big banks and their financial situation is good enough, but if they decide to merge, it will be even better for them, said the first deputy chairman of the Board of the Central Bank of Azerbaijan Alim Guliyev, commenting on the rumors about banks' plans to merge their businesses.

"I have not heard about such plans of Unibank and AtaBank, but individually they are good banks," said the deputy chairman.

According to him, although the Central Bank provided the first financial assistance to Unibank during the global crisis, it was necessary to support implementing obligations on external borrowings.

"This is a systematic bank, which must be supported to remain on the market," Guliyev said. - On the other hand, considering the country's image, we are ready to support banks to timely repay external loans from international organizations and foreign banks."

These banks have also said that this question today is not the topic of discussion.

On key financial indicators, Unibank is one of the top ten banks in Azerbaijan. As of 1 June 2009, the assets and loan portfolio of the bank exceeded $456 million and $332 million respectively, while its total capital for the same date amounted to $61 million.

Unibank already has experience in merging, since it was established based on combining two commercial banks - Mbank and PromTexBank.

The only founder of AtaBank is Ata Holding.

Do you have feedback? Contact our journalist at: capital@trend.az

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