Azerbaijan, Baku / corr Trend I.Khalilova / the National Bank of Azerbaijan (NBA) states increase of interests by foreign capital for entrance to the Azerbaijani banking market. Elman Rustamov, the Chairman of the Managing Board of the NBA, announced the bank intends to hold a accurate selection among them and develop a strategy - common views by foreign banks, which can be given priority in the allowance to the Azerbaijani market.
He particularly named Commerz Bank of Germany, which is eager to open its representative office in Baku and French bank of Societe General, which is eager to participate in the local banks.
"I appreciate the decision by Commerz Bank and will consider the issue of permission for opening its representation," Rustamov noted. Societe General is in talks with Azerbaijani banks and wishes to acquire a control package of shares. "For the time being the NBA did not gave approval for the French bank, because of absence of official appeal. We are prepared to consider the issue as soon as they appeal," he added.
Moreover, the Georgian, Kazakh, Russian and Latvian banks also took similar interests. Parex Bank of Latvia, active in Azerbaijan as a representative office, stated on its will of changing the current status. At the same Rustamov voiced his confidence that shut down of a representative of office in Baku will hold back Turan Alem bank of Kazakhstan from intention of entering the Azerbaijani market.
"The Azerbaijani banking section is of great investment interest for different foreign banks and funds, Obviously, we will accurately select the appeals, because to see in the Azerbaijani banking sector authorized and strong banks which could bring not only capital , but also technologies, new corporate culture, assistance in training of specialists," he said.
