Azernews.Az

By Trend

The Kazakh "Eurasian Bank" JSC is interested in entering the Azerbaijani market, Chairman of the Management Board of the Bank Pavel Loginov said in an interview with Trend.

At the same time, the development in the Kazakhstan market and the speedy implementation of the conditions under the program of recovery are the priority tasks for the "Eurasian Bank" at the moment, Loginov said.

"Last year we adopted a new development strategy, according to which we shifted the focus to the retail business. We see great potential in the development of this direction, therefore, first of all, we want to put the new model "on the rails" within the country and only then will be able to conquer new markets", said Loginov.

Loginov noted that among foreign countries, the bank is seriously studying the prospect of entering the market of Uzbekistan and the business model with which it will enter this country.

The bank wants to understand in what form it will enter this market, he said.

"Later, we will begin to study the possibilities of entering the markets of Kyrgyzstan and Azerbaijan. We have not abandoned our plans to expand into these markets, but it is important to understand that these are investments that should pay off in certain period of time. Therefore, we are looking at these markets with great interest, but we will enter them only after studying the possibilities of development in these regions," Loginov stressed.

Based in Kazakhstan, "Eurasian Bank" has been operating since 1994. The bank is one of the largest in the country and it occupies the ninth place in the country in terms of assets (about $2.69 billion) as of July 1, 2018.

Some 30 banks are functioning in Azerbaijan, 15 of which have foreign capital.

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