Azerbaijan, Baku, Dec.24 / Trend , N.Ismayilova /
The FTB Bank will study the potential of launching retail operations in Azerbaijan in 2010, Chairman of the Board Oleg Krasnojon said today.
"The bank's retail business development prospects will be reviewed in 2010," he said. "If the shareholders make an affirmative decision, then the bank will operate in retail."
According to the bank official, FTB Bank specialists will analyze the prospects of entering the retail market in Azebraijan.
"Perhaps we will need to attract a consulting company that knows the local market well. It is difficult for us to do this at the highest level ourselves, as this is not our bank's task," he said.
He added that the bank will operate with commercial clients and small- and medium-sized businesses, and intends to form a strong client base.
Fifty-one percent of the FTB Bank's shares belong to Russia's FTB Bank and 49 percent to residents of the Azerbaijan Republic.
VTB Group entered the Azerbaijani market in late 2008. The FTB received its Bank License No. 06/06-634 from the Central Bank of Azerbaijan March 11.
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