Foreign investors are interested in banking sector of Azerbaijan
Large foreign companies and banks display interest to the Azerbaijan banking market, the head of the National Bank (NBA) Department on supervision over the credit institutions activities Rufat Aslanli told journalists today, Trend reports. В"We had meetings with some of them and they showed interest in the current state of the banking market. The international finance institutions also told us about their willing to come to Azerbaijan, the NBA spokesman said.
Aslanli has not ruled out the possibility of foreign companies or banks presenting even in 2006 in the countrys banking market. It will take several stages. During the first stage the process may occur by acquiring stocks at the operating Azerbaijan banks.
Despite the liberalization of the foreign capital involvement in the countrys banking market during two years, no branch or subsidiary of the foreign bank has been opened so far. Increase of the foreign capital share in the banks consolidated capital occur by selling part of stocks in some banks (UniBank, Bank of Baku, bank В"RespublikaВ", Рђzerdemiryolbank). And the major buyer was the European Bank for Reconstruction and Development (EBRD).