Baku:Changes have been announced in the leadership of the Management Boards at Bank Respublika and AccessBank. AccessBank's Chairman of the Management Board, David Tsiklauri, has departed from the bank, as decided by its shareholders. Tariyel Ismayilov, the former Chairman of the Management Board of Bank Respublika, has been appointed as his successor.

According to Azeri-Press news agency, Aslan Abbasov, who served as the Deputy Chairman, has been temporarily assigned the responsibilities of Chairman of the Management Board at Bank Respublika.

Bank Respublika has completed the acquisition of 100% of AccessBank's shares. As part of this transaction, AccessBank's former shareholders will receive newly issued preferred shares, amounting to 25% of Bank Respublika's charter capital. Initially, the banks will continue to operate separately, with plans to merge in the future in compliance with relevant regulatory requirements.