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Azernegliyyatbank expands branch network

13 May 2009 14:29 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Azernegliyyatbank plans to triple the number of branches across the country this year, said Fakhraddin Baghirov, Chairman of the Bankâ€™s Supervisory Board.

According to him, the bank will open 8 branches to bring the number of its branches to 12.

â€œ7 branches will be based in provinces. We will open one branch in Gandja in a week, and one more in Mingechevir in two weeks. Besides, we plan to set up branches in Shirvan, Khachmaz, Imishli, Sumgait and Baku,â€ he added.

Azernegliyyatbank has been in operation since 1989.

As of July 1, its asets stood at AZN 19.975 million, loan portfolio at AZN 16.050 million, deposit portfolio at AZN 8.043 million, total capital at AZN 11.203 million and authorized capital stock at AZN 11.203 million. It operates 4 branches across the country.