Azerbaijan’s Kapital Bank has no plans to buy Nakhchivan Bank

Azerbaijan’s Kapital Bank OJSC has acquired a share of the consumer loan portfolio of Nakhchivan Bank OJSC for almost 60 million manats ($35.294 million), Chairman of the Board of Kapital Bank Farid Huseynov said at a press conference on December 8, Report informs.

Huseynov also noted that the credit organization he heads doesn’t intend to buy a regional bank: “The purchase of Nakhchivan Bank is not part of our strategy. We can negotiate the acquisition of any asset in various banking and non-bank credit organizations. However, we don’t intend to buy the bank either in Azerbaijan or in any other country.”