Bank of Georgia intends to acquire a bank in Azerbaijan

Bank of Georgia intends to acquire a bank in Azerbaijan
# 17 May 2007 14:03 (UTC +04:00)
Bank of Georgia is very interested in Azerbaijan’s banking market and intends to take over a commercial bank there. Lado Gurgenidze, chairman of the Directors’ Board of Bank of Georgia, told APA Bureau that the bank has lent $15 million credit facilities to two Azeri banks.
“Bank of Georgia is a leader in the region. In penetrate Azeri market, it is necessary to pass particular barriers. I am sure that good relations between Azerbaijan and Georgia will help to reach this aim,” he noted.
He added that Bank of Georgia is in the list of top 50 banks and will complete takeover of a Ukrainian bank. /APA-Economics/
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