Turkish bank interested in entering Azerbaijani market
Azerbaijan, Baku, May 27 / Trend N.Ismayilova /
The Turkish Sekerbank hopes to enter the Azerbaijani market, Azerbaijani Entrepreneurs Confederation head Mammad Musayev said today after meeting with the bank during his recent visit to Istanbul.
"During my visit, I met with representatives of two banks - Ziraatbank and Sekerbank. The first one is already in Azerbaijani, as a shareholder of AzerTurkBank, and the second expressed a desire to enter the country's banking market," Musayev said.
He said Sekerbank is studying the Azerbaijani banking market, although the capacity in which the bank plans to enter the market is still unclear.
Sekerbank is a universal bank with a strong retail position and is the seventeenth largest bank in Turkey. About 34 percent of its shares are owned by the Kazakh BTA (Bank Turan Alem). Its largest shareholder is the Sekerbank Pension Fund (43 percent). Four foreign funds, including the Swedish East Capital, are among its shareholders.
Earlier, the Turkish Is Bankası also expressed a desire to enter the Azerbaijani bank market, and has already appealed to the Central Bank of Azerbaijan. The bank has received permission from the Turkish regulatory banking authority to open a branch in Baku.
There are 47 banks in Azerbaijan - and 23 with foreign capital.
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