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One more Russian bank seeks presence in Azerbaijan

One more Russian bank seeks presence in Azerbaijan

27 October 2009 15:09 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. RosSelkhozBank, one of Russiaâ€™s major banks, intends to have a presence in Azerbaijan, said Yuri Shedrin. Russian Trade Officer in Baku.

"Agricultural equipment exports to Azerbaijan from Russia are growing as fruit and vegetable imports from Azerbaijan are increasing. That is why RosSelkhozBank intends to work in Azerbaijan," he added.

He added that the bank will open an office in Baku and has no intention to acquire any local bank.

Yuri Shchedrin also did not rule out the possibility of the Bankâ€™s launching the office by the end of 2009:

"Everything depends on the intensity of the negotiations," he added.

Russia’s two financial institutions - Nikoil Bank and Vneshtorgbank have presences in Azerbaijan at present.

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