The shareholders of Bank Respublika and AccessBank have approved
the key terms of a strategic transaction under which Bank
Respublika will acquire 100% of the shares of AccessBank. The
transaction is expected to be completed by November 2026.As part of
the transaction, AccessBank’s existing shareholders will acquire
newly issued preferred shares representing in aggregate 25% of Bank
Respublika’s charter capital, thereby becoming shareholders of Bank
Respublika.
Following completion of the acquisition, Bank Respublika and
AccessBank will initially continue to operate as separate banks,
with their subsequent integration into a single bank to be
implemented in accordance with applicable regulatory requirements.
Both Bank Respublika and AccessBank are among Azerbaijan’s leading
banks, with strong and resilient positions in the market. The
planned merger reflects a joint business decision by their
shareholders to support the banks’ further growth and
development.
Bank Respublika and AccessBank have similar corporate cultures
and business models, with both banks having a strong focus on
supporting micro, small and medium-sized entrepreneurs across
Azerbaijan. The transaction will create a financial institution
with significantly greater scale, strength and capabilities, an
enhanced market position and broader opportunities for its
customers. The combined institution will have total assets reaching
AZN 4.5 billion, with a loan portfolio of AZN 3.3 billion.
Shakir Rahimov, Chairman of the Supervisory Board of
Bank Respublika, said:
“This acquisition marks an important new stage in Bank
Respublika’s development and reflects the favourable business and
investment environment created under the leadership of President
Ilham Aliyev, as well as his strong and consistent support for
entrepreneurship and the private sector in Azerbaijan.
We are also deeply grateful to the Central Bank of the
Republic of Azerbaijan for its continued support and constructive
engagement throughout this long and complex process leading up to
this important milestone.
International financial institutions have been important
partners of Bank Respublika for many years, supporting us through
financing, expertise and close cooperation. We are particularly
pleased that this long-standing relationship will now evolve into a
new level of partnership, with leading international financial
institutions becoming shareholders of Bank Respublika during the
next stage of our development.”
Oleg Ivaniychuk, Chairman of the Supervisory Board of
AccessBank, said:
“Back in 2018–2019, AccessBank’s international institutional
lenders joined forces to successfully restructure and recapitalise
the Bank. The restructuring, led by ADB and responsAbility,
resulted in the institutional lenders becoming the Bank’s new
shareholders, strengthening its corporate governance and supporting
a comprehensive reorganisation and upgrade of its
operations.
Since then, AccessBank has developed into a strong,
well-performing and well-governed financial institution, making an
important contribution to the development of Azerbaijan’s banking
sector and to financing entrepreneurs and businesses across the
country.
Today marks the next important milestone in this journey. In
line with their long-standing commitment to private-sector and
financial-sector development in Azerbaijan, AccessBank’s
international shareholders are entrusting the Bank’s next chapter
to Bank Respublika, one of the country’s leading financial
institutions. Bringing together two strong and complementary banks
creates an excellent foundation for further growth, greater scale
and an even stronger contribution to Azerbaijan’s economy.
This milestone has been made possible by the shared vision,
commitment and close cooperation of AccessBank and its
shareholders, Bank Respublika and its shareholders, and the Central
Bank of the Republic of Azerbaijan. I would also like to express my
sincere appreciation to AccessBank’s management and employees,
whose dedication and professionalism have been fundamental to the
Bank’s successful transformation.”
The public, clients and partners of both banks, as well as other
stakeholders, will be regularly informed about the progress of the
acquisition and merger process.
