Parabank launches new deposit product

Parabank launches new deposit product
# 13 April 2009 13:08 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Parabank has launched a new deposit product.
The Bank said citizens may put money on the new deposit called “Labor Deposit” by submitting an identity card and a pension card.
The deposit earns 17.5% (AZN), or 18.5% (U.S. dollars) per annum.
The minimum size of the deposit is AZN / USD 200 for 6, 9, 12 months.
In addition, pensioners will get Life Insurance after putting money in deposit.
Owned by 23 individuals, Parabank has been in operation since 1991.
As of January 1, the bank’s assets stood at 65.552 million deposit portfolio at 35.905 million, credit portfolio at 42.317 million, total capital at 12.353 million and authorized capital stock at 10.070 million.
#
#

THE OPERATION IS BEING PERFORMED