BAKU, Azerbaijan, November 3. Bank Respublika
and AccessBank have announced the successful completion of a
strategic transaction under which Bank Respublika acquired 100% of
AccessBank’s shares, while AccessBank’s former shareholders became
shareholders of Bank Respublika by receiving newly issued
preference shares in Bank Respublika.


The completion of the transaction marks an important milestone
in the development of both banks, bringing together their financial
strength, professional expertise and complementary business models.
The next stage will be a legal and operational merger, creating one
of Azerbaijan’s largest banks under the Bank Respublika brand.


Until the merger is completed, both banks will continue to
operate under their existing brands, ensuring uninterrupted
customer service and fulfilling all obligations to their customers
and partners.


As part of the preparations for the merger, Tariyel Ismayilov
will become Chairman of the Management Board of AccessBank and will
subsequently serve as Chairman of the Management Board of the
merged bank. Aslan Abasov, Deputy Chairman of the Management Board
of Bank Respublika, has been appointed Acting Chairman of its
Management Board.







The merger will strengthen the bank’s financial position, expand
its capacity to finance businesses, improve operational efficiency,
accelerate the development of digital service channels and enhance
the quality of banking services.


Commenting on the completion of the transaction, Shakir
Rahimov, Chairman of the Supervisory Board of Bank Respublika,
said:


“The successful completion of this major transaction
reflects Azerbaijan’s favourable investment climate, the resilience
of its banking sector and international investors’ confidence in
its prospects. We are confident that bringing together the
strengths of the two banks will represent an important step in the
further development of the country’s financial market. We extend
our sincere gratitude to the Central Bank of Azerbaijan, the
shareholders of both banks, our customers, partner banks,
international financial institutions and all parties involved in
the transaction for their trust, constructive cooperation and
support throughout the process.”