Azerbaijan’s banks will get bigger in 2018, through the ongoing consolidation as well, Anar Hasanov, first deputy chairman of Azerbaijani AccessBank’s Management Board, said. “I believe that new bank merger cases will occur on the market in 2018,” he declared. “The banking sector is moving in this direction and local banks will be enlarged. It…
Azerbaijani banking sector stabilized after creditors restructured $3.3 billion in foreign obligations of the state-owned International Bank of Azerbaijan (IBA) in return for government bonds, said Nariman Mannapbekov, head of ADB Azerbaijan office. “Some capitalized banks are making initial efforts to gradually build-up their loan portfolios,” Mannapbekov said. On July 15, 2015, President of Azerbaijan…
Six banks violate the requirements for capitalization to UAH 200 million, Deputy Chairman of the National Bank of Ukraine (NBU) Yekateryna Rozhkova has said. “We diagnosed 37 small banks. After diagnostics, two banks were declared insolvent, two ceased operations and the remaining 33 did not require capitalization based on the quality of assets. But if…
The only shareholder of Alfa-Bank (Kyiv), ABH Ukraine, on October 2 and October 3 issued two tranches of eurobonds for a total of $100 million, according to a press release from the financial institution. According to the document, the securities were issued under the Reg S rule (for non-U.S. investors) with a maturity date on…
Azerbaijan’s Financial Market Supervisory Authority is studying the possibility of local banks’ merger, according to the monitoring report on the implementation of measures reflected in the Strategic Roadmap for the Development of Financial Services. The possibility of further capitalization of the banks is also being considered, according to the report. The Financial Market Supervisory Authority…
The former Krediidipank is officially launching operations under the new Coop Pank brand. All Krediidipank subsidiaries will likewise be switching to the new name. Coop Pank’s major stakeholder is Coop Eesti, a retail group consisting of 19 regional consumer cooperatives. According to Coop Pank board chairman Margus Rink, 14 bank branches across Estonia have been…
An auction for placement of short-term notes worth 200 million manats of Azerbaijan’s Central Bank (CBA) will be held at the Baku Stock Exchange (BSE) on September 27, the BSE said. Some 2 million notes at a par value of 100 manats each and maturity period of 28 days will be put up for auction.…