Experts with European experience involved in "Atabank" and "CDB" consolidation

Baku. 21 April. REPORT.AZ/ Consolidation of Atabank and Caspian Development Bank (CDB) is a complex process.

Report informs, Movlan Pashayev, the managing partner of PWC Azerbaijan audit company in charge of assessment of banks’ assets told at the press conference related to merger of the banks.

According to him, financial, human resources, information technologies, legal and tax issues must be taken into account during consolidation process: “PWC in charge of assessment of assets will carry out the process at fastest pace, in uninterrupted way for customers and in prompt and convenient way for management. The banks’ managements aim to carry out an exemplary process, create highly efficient, stronger and sustainable bank with attractive customer service. For this reason, the company have established a team including local and regional banking specialists, attracted staff with big experience in management of similar consolidation processes in post-soviet and European countries.

It was also noted that the road map of consolidation process had been developed and the working groups had started its execution: “Consolidation process will consist of two phases - merger and integration. In first phase the assessment will be carried out, existing financial, legal, commercial status will be inspected and on the basis of this particular steps for integration phase will be determined”.