Baku. 2 November. REPORT.AZ/ Turkish ‘Zıraat Bankası’ sells its stake in Azer-Turk Bank OJSC to the Government of Azerbaijan. Report informs referring to the Turkish media, CEO of ‘Zıraat Bankası’ Huseyin Aydın said.
He pointed out that sale process will be completed in coming days.
Azer-Turk Bank was established in 1995. The bank's authorized capital is 50 million AZN. The shareholders of the bank are the State Committee for Property Affairs (on behalf of the Government of Azerbaijan, 75%), Zıraat Bankası (12,37%), Zıraat Bank İnternational (1,08%), AzRe Reinsurance (6,55%), Gala Hayat Insurance (5 %).
H. Aydın not said whether this process will refer to the stake of Zıraat Bank International. Thus, only after the acquisition of Zıraat Bankası Azerbaijani government becomes the owner of more than 87% share of Azer-Turk Bank.