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    Statement: 'AGBank' to merge with 'Bank Standard'

    'AGBank' OJSC appealed to 'AB Standard' Group of Companies for merger with 'Bank Standard'

    Baku. 12 February. REPORT.AZ/ Agreement has been reached regarding cooperation to implement merger process of 'AGBank' OJSC with 'Bank Standard' CJSC.

    Report informs, joint statement of 'Bank Standard' and 'AGBank' declares.

    The statement declares, an appeal was made to 'AB Standard' Group of Companies regarding consolidation of 'AGBank' with 'Bank Standard'. On the basis of this appeal, Holding has adopted a decision on signing protocol of intentions.

    'In accordance with the protocol of intentions signed on February 11, the parties have reached an agreement regarding cooperation to implement merger process of 'AGBank' with 'Bank Standard''. 

    'Working group, consisting of representatives of both banks as well as audit and law firms will be established to carry out relevant works,' the statement declares. 

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