IFC intends to remain long-term investor following deal between Bank Respublika, AccessBank

The International Finance Corporation (IFC) expects to maintain its involvement following the completion of the merger between two Azerbaijani banks - OJSC Bank Respublika and CJSC AccessBank, the IFC told Report.

"This acquisition brings together two institutions with a shared commitment to expanding access to finance for small businesses and underserved segments in Azerbaijan, helping drive private sector growth and employment in the country. The transaction has not yet been completed. IFC expects to remain engaged following completion of the transaction. As a long-term investor and development partner, IFC continues to explore opportunities to support the development of Azerbaijan's financial sector in line with our mandate to promote inclusive economic growth and job creation," the IFC noted.

In September 2026, the shareholders of Bank Respublika OJSC and AccessBank CJSC approved the key terms of a transaction under which Bank Respublika will acquire 100% of AccessBank's shares. Under the terms of the deal, existing AccessBank shareholders will receive new preferred shares in Bank Respublika, representing a combined 25% of the bank's authorized capital. The transaction is expected to close by November 2026. IFC holds a 16.56% stake in AccessBank CJSC.

AccessBank"s other shareholders include the Asian Development Bank (19.9%), the European Investment Bank (17.39%), responsAbility (12.28%), the Dutch development bank FMO (9.41%), the Austrian development bank OeEB (9.17%), SIFEM AG (8.89%), EFSE (2.78%), the Green for Growth Fund (1.77%), the Black Sea Trade and Development Bank (0.58%), and LFS Advisory GmbH (0.13%).

Meanwhile, 63.32% of Bank Respublika"s shares are held by Natig Guliyev, 18.46% by Elchin Guliyev, 8.47% by Namig Guliyev, 5.45% by Shakir Rahimov, 4.22% by SIDT, and 0.08% by other parties.