According to the news, one of Azerbaijan's banks is being sold. Negotiations on the sale of the bank have begun. Papara, Turkey's leading fintech, buys the bank. Papara wants to quickly enter the Azerbaijani market by buying the bank.
Although the name of the bank has not been disclosed, several versions are voiced. The acquisition is expected to be completed in the first quarter of next year.
Changes in the financial ecosystem in Azerbaijan accelerated after the appointment of a new head of the Central Bank. The activities of insurance companies and banks have been reviewed. Several banks had to close during the process. At the same time, several online payment systems arrived in the country.
The change in the financial ecosystem continues. Papara's acquisition of a bank in Azerbaijan can lay the foundation for a new process. Because Papara allows you to buy a card online in seconds and use it for internet spending. In terms of fast card presentation, speed and commission in online shopping, the startup can make innovations in Azerbaijan.
