Baku, Azerbaijan, Oct. 6
By Azad Hasanli – Trend:
Azerbaijan’s banks will get bigger in 2018, through the ongoing consolidation as well, Anar Hasanov, first deputy chairman of Azerbaijani AccessBank’s Management Board, said Oct. 6.
“I believe that new bank merger cases will occur in the market in 2018,” he told reporters in Baku. “The banking sector is moving in this direction and local banks will be enlarged. It seems to me that the time of small banks has already ended.”
AccessBank receives offers relating to merger, from international financial institutions as well, Hasanov said, adding the bank is not considering such a possibility now.
“All these proposals are purely unofficial and we have not even discussed them in the bank, as currently we have no plans to merge with other market participants,” he added.