Azerbaijan, Baku, Nov 6 /Trend A.Akhundov/
Russia's VTB Bank, which is represented by a subsidiary bank in Azerbaijan, is in no hurry to enter other segments of the financial sector, Chairman of VTB Bank (Azerbaijan), Alexander Eremin told Trend on Tuesday.
"The group has ideas for the development of both the insurance and leasing areas in Azerbaijan, but it is primarily bank, that is very important for us and all our efforts are focused on its development. Banking business is of most interest for the group as a tool for obtaining a stable income in the long-diversified term," Eremin said.
He noted that the bank has not put priority to trading on the stock market of Azerbaijan.
"We are not in a hurry to start the projects, where we can't be active players and offer a quality service to customers" Eremin said.
However, he added that VTB Group is not limited by the activities of the subsidiary bank only at the Azerbaijani market and is actively working on a number of other major projects.
"VTB Group - is a big holding company and its interests are not limited by only the subsidiary's capabilities in Azerbaijan. With a unit of the investment and lending divisions of large international customers, the group is also active in the upper segment of the Azerbaijani companies" Eremin said.
The official opening of JSC VTB Bank (Azerbaijan) was held on November 23, 2009 (license number 162). Currently, 51 percent owned by the Russian side (VTB), 48.99 - AtaHolding and 0.01 percent - individual.
