İş Bankası (Turkey) is negotiating a bank purchase with three banks in Azerbaijan after the Central Bank refused to permit the opening of a branch of the Turkish bank in February, Trend reports on Thursday.
İş Bankası has 891 offices in Turkey, 11 abroad, a subsidiary bank in Germany and an office in China.
İş Bankası requested the Central Bank of Azerbaijan to permit their expansion of operations in 2008.
23 of 43 banks in Azerbaijan operate using foreign capital. 50-100% of the capital in 7 of them belongs to foreigners, up to 50% belongs to foreigners in 14 banks. There are also two local offices and five offices of foreign banks.
