Gabala, Azerbaijan, June 24
Trend:
Russia invites Azerbaijani banks to operate in its territory, MP of the State Duma of Russia's Federal Assembly, Deputy Chairman of the Committee on Financial Markets, Dmitry Savelyev said.
He made the remarks at the round table on 'Development of the interbank cooperation between Russia and Azerbaijan' during the fifth Azerbaijani-Russian interregional forum 'Interregional cooperation: new opportunities for growth' in the Azerbaijani city of Gabala.
"For our part, we are interested in expanding the activity of Russian banks in Azerbaijan," he added.
Savelyev pointed out that currently, Russia has revoked licenses of a considerable number of banks.
"This year will see a record in the number of revoked licenses. But this concerns only those banks which operate improperly," he said, adding that the Azerbaijani banks will not face this when entering the Russian market.
Such cases shouldn't in any way affect the decision making on entering of Azerbaijani banks and their branches into the Russian market, he said.
"As the head of the Russia-Azerbaijan friendship group in the State Duma, I would like to assist Azerbaijan's banking sector in opening and starting operations in Russia," Savelyev stressed.
He went on to add that the interbank cooperation is one of the main areas of development of the interstate relations.
Currently, two banks with Russian share, namely, the VTB Bank and Nikoil Bank, operate in Azerbaijan. At the same time, the subsidiary of the International Bank of Azerbaijan and the representative office of Mugan Bank operate in Russia.
Edited by CN