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Amrahbank gears up for new branding policy

10 June 2009 14:57 (UTC +04:00)

Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan-based Amrahbank will soon launch a new branding policy which will reflect the results of restructuring plans.

McCann Erickson, a global advertising agency network, was awarded a contract for the development and introduction of new brand, said the Bank.

â€œThe Bank will retain its name with the main focus on the re-development of corporate logos, colors, design and content of Web pages, exterior design of branches and other media containing image elements,â€ said the bank.

Emil Mammadov, Chairman of Amrahbank, says there have been a number of fundamental changes since the beginning of strategic partnership with the Bahrain-based International Investment Bank (IIB).

The bank has adopted and is implementing a new strategy, mission and goals, as well as improved corporate governance system.

â€œWe are now expanding our international cooperation, and launching new products and services. Naturally, these positive changes have necessitated the creation of a new corporate brand that reflects the new values, traditions and goals,â€ he says.

Emil Mammadov adds that the new logo will reflect Amrahbankâ€™s desire to combine western innovation and eastern stability.

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.