Big Kazakh bank may enter Azerbaijani market

BAKU. KAZINFORM Kazakhstan's Eurasian Bank intends to enter the Azerbaijani market, said the bank's CEO Pavel Loginov in an interview with Forbes.kz, Kazinform learnt from Trend . 

Loginov noted that currently, the international expansion is a part of the bank’s strategy.

“We already are in markets of Kazakhstan and Russia and want to become a transaction hub in all the Eurasian area, as well as enter the markets of Uzbekistan, Kyrgyzstan, maybe Azerbaijan and Georgia,” he said.

Moreover, he added that the bank’s shareholders are considering the issue on further recapitalization by six billion Kazakh tenges.

“It is expected that the decision on this issue will be made soon,” said the CEO.

The Eurasian Bank was created in 1994 in Kazakhstan.

Thirty-two banks operate in Azerbaijan, 15 of which have foreign capital.