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UniBank wants to acquire a bank in Azerbaijan

UniBank wants to acquire a bank in Azerbaijan

24 September 2009 14:20 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. According to unofficial reports, Azerbaijan-based UniBank intends to wholly take over a bank in the country within two months. The name of the target bank is not released to the media.

Eldar Garibov, Chairman of the Bankâ€™s Supervisory Board, denied the reports to APA, saying the bankâ€™s shareholders have no decision to acquire a bank.

Owned by EBRD (15.15%), DEG Investment Corporation (8.33%), legal entities (0.9%) and individuals (75.62%), UniBank has been in operation since 1992. It operates 24 branches across the country.

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