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Amrahbank announces appointment of new chairman

15 May 2009 15:28 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Amrahbank has announced a board reshuffle which changed chairman and members of the board.

The Bank says that Emil Mammadov, who had been deputy chairman of Nikoil Bank, became the new Chairman of Board.
Emil Mammadov has over 10 years of experience in the banking sector. He is a graduate of the State Economic University and has an MBA from the Manchester Business School, UK.
Prior to this appointment, he had worked at Nikoil Bank for 7 years and held various senior positions at International Bank of Azerbaijan.
Furthermore, Heydar Mirzayev, former retail customer officer for Unibank, joined Amrahbank as a member of the management board and Guldana Aslanova, former transactions supervision officer of Nikoil Bank, as Risk Management Officer.

Mahmud Aghamaliev, former chairman of Amrahbank, will be an adviser to the Chairman of Supervisory Board of Amrahbank.

Amrahbank is one of the oldest (est. 1993) and leading commercial banks of Azerbaijan. It offers a wide range of retail and corporate banking products such as deposits, loans, money transfers, documentary transactions and investment advisory services. Amrahbank is one of the most profitable banks of Azerbaijan (featuring in the top 3 banks by Return on Equity - 31 Dec 2008), has one of the largest branch networks (across Baku and different regions of Azerbaijan) and equity base. The Bank is a member of various professional organisations such as the Deposit Insurance Fund, Mortgage Fund, National Entrepreneurship Fund and Azerbaijan Banks Association. A recent strategic partnership with the International Investment Bank based in Bahrain (through a 49% shareholding), has played a key role in further developing many areas of Amrahbank including corporate governance, international cooperation and product and services quality.