Azerbaijan, Baku / corr. Trend I.Khalilova / In 2007, the International Finance Corporation (IFC) plans to become a shareholder of another Azerbaijani bank.
The Head of the IFC Baku Office, Aliya Azimova, said that at present negotiations are held with Bank Respublika to acquire 10% of its shares. "A contract will be signed after negotiations have been completed," Azimova said.
Currently, relevant to the GDP, the share of the banking credits equals 14-15% and excluding the State banks, the share of the private banking market is very low. Therefore, capital needs to be increased through the local banks to support the non-oil sector. From this point of view, the IFC wishes to support the banks via credit lines or by increasing their capital.