Azerbaijan’s Unibank talks merger possibility, closure rumors
Baku, Azerbaijan, Feb. 2
By Anvar Mammadov - Trend:
Azerbaijan’s Unibank isn’t in talks on merger with any other bank, Faig Huseynov, chairman of Unibank’s management board, told reporters in Baku Feb. 2.
“In 2017, we increased our capital and completed the year with profit,” he said. “But we are always ready for proposals on merger.”
Huseynov also touched upon rumors about the bank’s closure and noted that the bank is still ready to serve its customers.
“We published our figures for 2017,” Huseynov said. “The data completely prove our efficiency, besides, our audit report will be ready soon.”
Touching upon the bank’s plans for this year, Huseynov noted that they include active lending, as well as expansion of digital services.
“The expansion of digital banking is one of our main goals,” he said. “It is necessary to strengthen and develop digital banking. As for other plans, no major campaigns are expected.”
Unibank completed 2017 with a profit of 4.044 million manats. The bank’s loan portfolio last year amounted to 280.1 million manats, the authorized capital - 125.686 million manats (1.8 times growth for the year) and the total capital - 67.488 million manats.
Unibank has been operating in Azerbaijan since 2002. The bank was founded following the merger of two private commercial banks – MBANK and PROMTEXBANK. Following the merger, the European Bank for Reconstruction and Development (EBRD) and the German Investment and Development Corporation (DEG) became shareholders of Unibank.
(1.7001 manats = $1 on Feb. 2)