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Xalg Bank to open a new branch

17 June 2009 16:47 (UTC +04:00)

BakÄ±. Elnur HÃ¼seynquluyev â€“ APA-Economics. Azerbaijan-based Xalg Bank plans to open a new branch in Baku.

The new branch named â€œNeftchilerâ€ is located on 70B, Garayev Avenue, said the Bank.

The branch will offer a full range of the bankâ€™s services to local customers.

Xalg Bank currently operates 9 branches including 7 provincial branches (Ganja, Zagatala, Sumgait, Neftchala, Jalilabad, Yevlakh, Mingechevir).
Before the end of the year, the bank will open 5 new branches (Baku, Khachmaz, Lankaran, Ismailli, Devechi).

Owned by several legal entities, Xalg Bank has been in operation since 2004.
As at 1 April 2009, the bank’s assets amounted to 386.153 million manats, credit portfolio - 341.894 million amants, deposit portfolio - 209.476 million manats, the total capital - 62.311 million mnats, authorized capital - 53.550 million manats.