Baku, Azerbaijan, Oct. 31
By Azad Hasanli – Trend:
Ziraat Bank Finance Group will take on a very important place in the economic relations between Turkey and Azerbaijan, said Turkish Economy Minister Nihat Zeybekci at the opening ceremony of the new head office of Ziraat Bank in Baku on Oct. 31.
The bank can also play a role in the transition of both countries to trade in national currencies, noted Zeybekci.
A subsidiary of Turkey’s Ziraat Bank has been operating in Azerbaijan since 2015. The bank’s shareholders are: Ziraat Bank (99.98 percent), Ziraat Insurance (0.01 percent) and Ziraat Securities (0.01 percent). Currently, the bank has one branch and head office in Baku.
Ziraat Bank has been present on the Azerbaijani banking market since 1995 as one of the co-founders of Azer Turk Bank OJSC, where currently the Turkish bank owns 12.37 percent.