Azerbaijan, Baku, Sept. 24 / Trend A. Taghiyeva /
One of Azerbaijani banks is involved in negotiations for the acquisition of a stake in Turkey's TAIB Bank with headquarters in Bahrain's capital Manama, Hurriyet newspaper reported today.
According to the newspaper, TAIB Bank was purchased by the Turkish holding company Aksoy Holding from one of Dubai's sheikhs in September 2012. At that time the holding increased the bank's capital by 80 million lira and a decision was made to sell a major stake in the bank.
According to the newspaper, the director of the holding Erdal Aksoy confirmed the process of holding negotiations on the sale of some shares of the bank with one of the Azerbaijani banks. But Aksoy refused to name the Azerbaijani bank.
According to other Turkish media, Azerbaijani Pasha Bank shows interest in the acquisition of TAIB Bank's stake. It is currently seeking to enter the Turkish banking sector.
TAIB Bank was established in Bahrain in 1979. The bank has been operating in Turkey since 1987. Besides Turkey, there are branches in Kazakhstan, the United Arab Emirates and the U.S. As of 2012, the assets of the bank amounted to 19 million lira.
The official exchange rate is 1,9856 TRY/USD on Sept. 24.