Azerbaijan's Unibank Could be OTP Acquisition Target

"Hungarian OTP Bank is a potential purchaser of the stocks of Azerbaijani Unibank," head of the European Bank for Reconstruction and Development's Baku Office Francis Delaey told TrendCapital, an Azeri website, on September 4th 2008.

 

European Bank for Reconstruction and Development (EBRD) owns 15.2 percent of Unibank.

Unibank is the second largest private bank in Azerbaijan, which held 6 percent of Azerbaijani banking system’s assets and 5 percent of retail deposits at the end of the first quarter of this year. The bank is the market leader in automobile and mortgage crediting.

News Monitoring