Another Russian bank accesses Azeri market
One of Russia’s biggest banks, RosSelkhozBank, will start operating
in Azerbaijan soon, the Russian commercial representative, Yuriy
Schedrin, has said.
Schedrin noted that the legal aspects of the issue are now close to being finalized and the bank is expected to start functioning in Baku in 2010. "The bank will have the status of a permanent representative and will not engage in financial operations."
A short while ago, Schedrin had stated that the volume of agricultural machinery brought from Russia to Azerbaijan and the export of fruit and vegetables from Azerbaijan to Russia were increasing. For this reason, RosSelkhozBank intends to start operating in Azerbaijan.
At present, there are two Russian banks in Azerbaijan: Bank Nikoil and VTB Azerbaijan. *
Schedrin noted that the legal aspects of the issue are now close to being finalized and the bank is expected to start functioning in Baku in 2010. "The bank will have the status of a permanent representative and will not engage in financial operations."
A short while ago, Schedrin had stated that the volume of agricultural machinery brought from Russia to Azerbaijan and the export of fruit and vegetables from Azerbaijan to Russia were increasing. For this reason, RosSelkhozBank intends to start operating in Azerbaijan.
At present, there are two Russian banks in Azerbaijan: Bank Nikoil and VTB Azerbaijan. *
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