Azerbaijan's Bank Respublika To Acquire Foreign-Owned AccessBank In Merger Deal
BAKU, Sept 11 (Reuters) - Azerbaijan's Bank Respublika has agreed to acquire AccessBank from a group of international financial institutions in a deal that will give AccessBank's current shareholders a combined 25% stake in Bank Respublika, the banks said on Friday.
AccessBank's shareholders include the Asian Development Bank, International Finance Corporation, European Investment Bank, Dutch development bank FMO, Austria's OeEB and funds managed by responsAbility.
Bank Respublika will acquire 100% of AccessBank's shares, with the transaction expected to close by November 2026. Financial terms were not disclosed.
The two lenders will initially operate separately before merging, subject to regulatory requirements.
The combined bank will have assets of about 4.5 billion manats ($2.65 billion) and a loan portfolio of 3.3 billion manats.
(Reporting by Nailia Bagirova; Editing by Louise Heavens)