Kazakh Eurasian Bank To Enter Azerbaijani Market

Kazakh Eurasian Bank To Enter Azerbaijani Market

Kazakhstan’s Eurasian Bank intends to enter the Azerbaijani market, said the bank’s CEO Pavel Loginov in an interview with Forbes.kz.

Loginov noted that currently, the international expansion is a part of the bank’s strategy.

“We already are in markets of Kazakhstan and Russia and want to become a transaction hub in all the Eurasian area, as well as enter the markets of Uzbekistan, Kyrgyzstan, maybe Azerbaijan and Georgia,” he said.

Moreover, he added that the bank’s shareholders are considering the issue on further recapitalization by six billion Kazakh tenges.

Eurasian Bank is the ninth largest lender in Kazakhstan, headquartered in Almaty, It was founded in 1994 as a closed joint-stock company, and reregistered in 2003 as a joint stock company due to joint stock company law changes.

The Bank is owned 100% by Eurasian Financial Company JSCwhich is 100% owned by three equal shareholders: Alexander Mashkevich, Alijan Ibragimov, Patokh Shodiyev (aka Patokh Chodiev)