OREANDA-NEWS. November 23, 2007. Opening of representation of one of the high-rated European banks in Azerbaijan has been completed.

Adishirin Gasimov, Bank Supervision Department Chief (The National Bank of Azerbaijan) reported to Fineko/abc.az that German Commerzbank received permission to open representation in Azerbaijan according to NBA decision.

After closing of Dresdner Bank representation in Baku several years ago, Commerzbank representation became the first office of high-rated European bank in Azerbaijan.

At present there is a wide interest to be introduced into Azeri market of Russian and foreign banks with high rating. Citibank is also ready to open its representation in Baku.