Commerz Bank Plans to Open Branch in Azerbaijan
Azerbaijan, Baku / corr. Trend I.Khalilova / The German banks demonstrated an interest in the banking market of Azerbaijan.
The representative of the Federal Ministry of Economy Germany for the Countries of Central Asia, Caucasus, Russia, Ukraine, Belarus and Moldova, Frank Vayzing, said that Commerz Bank in particular has voiced its wish to open a branch in Baku. According to him, realizing large-scale projects and the rate of the economic development in Azerbaijan has increased the interest of the German industrialists and investors. Talks on co-operation in the banking sector, including opening of German bank branches in Azerbaijan are held between the European Central Bank, Finance Ministry of Germany and the National Bank of Azerbaijan.