All the obstacles are lifted on the way of Russian Vneshtorgbank’s (VTB) entry to the Azerbaijani banking market, Russia’s Trade Representative in Azerbaijan Yuri Shedrin stated.

Mediamax reports referring Trend that Yuri Shedrin expressed hope that VTB will receive permission for the purchase of the Azerbaijani bank’s shares by the end of the current year.

VTB plans to conclude a deal on purchasing the control package of shares of the Azerbaijani AF Bank. As the National Bank of Azerbaijan (NBA) noted, at present, the offer of VTB is in the process of consideration.

The leadership of the Russian bank expects that the deal will take place in fall.

At present, from the large Russian banks, “Uralsib” bank, which owns Azerbaijani Nikoil Bank, is presented in Azerbaijan. The latter occupies the 11th place in the banking sector of Azerbaijan.