15:10 - 18.09.2019

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September 18, Fineko/abc.az. The likelihood of a bank merger is always there, expert economist Ekrem Hasanov told Abc.az answering a question about a possible merger of banks in Azerbaijan.

According to the expert, the question why the merger is happening and what it is aimed at is very important. Stressing that a real merger of banks in Azerbaijan was observed in the early 2000s, Hasanov noted that at the moment he does not expect such real mergers.

“What kind of merger can we talk about ?! Only banks with the same owner can merge. I’m not sure about the real merger of banks with different owners, because the bank statements are not true, and the bank owners hide it from each other. Readers should have a full understanding of what a merger of banks is and why it happens. Suppose I and you have our own banks. The question of how much our shares will be at the merger of banks depends on the financial condition of our banks. This means that if the financial condition of my bank is good, then as a result of the merger with the new bank, my share will be even greater, and you will have less. Therefore, everyone is trying to make his financial condition look better than in reality, and deceives each other. In addition, we know that the reason for the difficult situation our banks are in today is the funds actually appropriated by the owners of banks under the guise of loans. For this reason, I see no real reason for the merger of banks in the near future. "

Posted by Elmir Murad