Two banks in Azerbaijan may merge
Baku, Azerbaijan, Jan. 22
By Anvar Mammadov – Trend:
Azerbaijan’s Bank of Baku OJSC is considering the possibility of merger with the country’s AFB Bank OJSC, a source in Azerbaijan’s banking market told Trend Jan. 22.
This issue is under discussion, according to the source.
“The merger with the AFB Bank can become an alternative to increasing the authorized capital of the Bank of Baku,” the source noted. “Both options are being considered. Details will be known in the near future.”
The Bank of Baku has been operating in Azerbaijan since 1994.
The AFB Bank has been operating in Azerbaijan since 2008.