Baku: The shareholders of Bank Respublika and AccessBank have approved the key terms of a strategic transaction under which Bank Respublika will acquire 100% of the shares of AccessBank. The transaction is expected to be completed by November 2026. As part of the transaction, AccessBank's existing shareholders will acquire newly issued preferred shares representing in aggregate 25% of Bank Respublika's charter capital, thereby becoming shareholders of Bank Respublika.
According to Azerbaijan State News Agency, following the completion of the acquisition, Bank Respublika and AccessBank will initially continue to operate as separate banks, with their subsequent integration into a single bank to be implemented in accordance with applicable regulatory requirements. Both Bank Respublika and AccessBank are among Azerbaijan's leading banks, with strong and resilient positions in the market. The planned merger reflects a joint business decision by their shareholders to support the banks' further growth and development.
Bank Respublika and AccessBank have similar corporate cultures and business models, with both banks having a strong focus on supporting micro, small, and medium-sized entrepreneurs across Azerbaijan. The transaction will create a financial institution with significantly greater scale, strength, and capabilities, an enhanced market position, and broader opportunities for its customers. The combined institution will have total assets reaching AZN 4.5 billion, with a loan portfolio of AZN 3.3 billion.
Shakir Rahimov, Chairman of the Supervisory Board of Bank Respublika, emphasized that this acquisition marks an important new stage in the bank's development and highlights the favorable business environment in Azerbaijan. He also expressed gratitude to the Central Bank of the Republic of Azerbaijan for its support throughout the process and acknowledged the role of international financial institutions as long-standing partners.
Oleg Ivaniychuk, Chairman of the Supervisory Board of AccessBank, reflected on the journey of AccessBank since its restructuring in 2018-2019, led by ADB and responsAbility. He noted that AccessBank has evolved into a strong financial institution contributing significantly to Azerbaijan's banking sector. Ivaniychuk expressed confidence in the new chapter under Bank Respublika's leadership, highlighting the shared vision and cooperation that made this milestone possible.
The public, creditors, and other stakeholders will receive regular updates on the progress of the acquisition and merger process.