Kazakh “Khalik Bank” plans to enter the financial market of Azerbaijan.

“We have been for long interested in entering the financial market of Azerbaijan. Our strategy clearly provides for the development of “Khalik”, as a regional financial group”, Chairman of the National Savings Bank of Kazakhstan Republic Grigori Marchenko stated. He noted that entering the Azerbaijani financial market is planned to be realized by means of purchasing a bank, an insurance company and other financial institutions.

TrendCapital informs that Grigori Marchenko assessed as quite high the opportunities of the Azerbaijani market.

“There is quite an interesting market here, but in its development it falls behind the Kazakh market for a few years. There is a number of banking products and technologies, which we could implement on this market. This concerns the plastic cards, mortgage, leasing”, he stated.

“There are foreign banks in Azerbaijan, but neither of them plays an important role on the market. If we manage what we plan, and we gain the control package of the bank, which we are interested in, we could be successful on this market”, Marchenko stated.

“We are not going to entice large corporative customers from Azerbaijani banks. We, first of all, are going to work in the sphere of retail, with small and medium enterprises, which is our advantage in Kazakhstan, Kyrgyzstan and other countries”, Marchenko noted.