The European Investment Bank (EIB) has become the owner of preferred shares in the Azerbaijani open joint-stock company “Bank Respublika,” the EIB told Report.
“As part of the completed transaction [regarding the merger of Bank Respublika and AccessBank], the EIB disposed of its ordinary shareholding in AccessBank and received a combination of cash and preferred shares in Bank Respublika, an existing EIB financing partner. The EIB’s holding of preferred shares results from the agreed transaction structure and does not represent a new strategic equity investment.
The EIB has been supporting AccessBank Azerbaijan since 2014, initially through financing aimed at improving access to credit for micro, small and medium-sized enterprises. When AccessBank faced significant financial difficulties in 2018, the EIB participated alongside other international financial institutions in a lender-led restructuring, converting part of its outstanding debt into equity to support the bank’s recapitalisation and continued operations.
This decision reflected not only the objective of preserving the EIB’s financial exposure, but also its broader policy commitment to supporting SMEs and financial sector resilience in Azerbaijan. The restructuring helped AccessBank restore its capital position, return to profitability, and continue providing financing to local businesses. The bank subsequently achieved a successful turnaround.
The acquisition by Bank Respublika represents the successful conclusion of this restructuring process and an important step in the continued development of Azerbaijan’s banking sector. By bringing together two established financial institutions with a strong focus on SME financing, the transaction is expected to strengthen their capacity to serve local businesses and support private sector development,” the bank noted.
In September 2026, the shareholders of Bank Respublika OJSC and AccessBank CJSC approved the main terms of the deal providing for the purchase of 100% of AccessBank’s shares by Bank Respublika.
According to the parameters of the agreement, the current shareholders of AccessBank will receive newly issued preferred shares of Bank Respublika, which will total 25% of the bank’s authorized capital.
The deal was completed in early November. The share of the European Investment Bank (EIB) in AccessBank CJSC was 17.39%.
Among other shareholders of AccessBank were the Asian Development Bank (19.9%), the International Finance Corporation (16.56%), responsAbility (12.28%), the Dutch entrepreneurial development bank FMO (9.41%), the Development Bank of Austria 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%).
In turn, 63.32% of Bank Respublika shares belong to Natig Guliyev, 18.46% to Elchin Guliyev, 8.47% to Namig Guliyev, 5.45% to Shakir Rahimov, 4.22% to SIDT, and 0.08% to other persons.
As a result of the concluded deal, Bank Respublika acquired ownership of 100% of the shares of AccessBank. In turn, the former shareholders of AccessBank acquired newly issued preferred shares of Bank Respublika and were included among its shareholders.