Bank of Azerbaijan optimizes branch network

Bank of Azerbaijan optimizes branch network
# 23 September 2009 14:06 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Bank of Azerbaijan being one of the leaders of financial sectors of the country fulfills an active work to optimize the branch network aimed at improving the quality of services extended to the population.

“Optimization of branches’ network envisages the enlarging of Bank of Azerbaijan’s branches all over the country. By this November and December, 2 large branches of the Bank will be commissioned. These branches will unite several small branches”, - said Mr.Khayal Sharifzade, Chairman of Board of the Bank of Azerbaijan.

These branches will opened in Yasamal and Narimanov regions of Baku.

In Narimanov region, the branch will be opened near Ganjlik subway station; while the branch of Yasamal region will be opened near Huseyn Javid Park in proximity of Elmlar Akademiyasi subway station.

Bank of Azerbaijan pays a particular attention to the location of new branches. To be used easily by the population, large branches will be opened near subway stations or animated places. Each branch will have the modern car parking place. It is planned also to open branches near Gara Garayev and Neftchilar subway stations and in micro-districts. Recently, the Bank has opened a new branch in Commercial Center of Baku Bus Compound.

The number of branches of the Bank of Azerbaijan will not be just maintained, but even increased thanks to the opening of new branches in Baku and regions of Azerbaijan.

“In 2010-2011, Bank of Azerbaijan plans to open its branches in regions of Azerbaijan to be closed to the population. Branches will be opened in Sumgayit, Guba, Ganja, Lenkoran and Mingachevir. In other words, having understood well the importance of regions in the life of our country, Bank of Azerbaijan intends to expand the branch network in this direction and be suitable to its name. Branches of the Bank are already in Sabirabad, Nakhchivan, Balaken, Zardab and Ujar”, - declared Chairman of the Board of the Bank.

Besides that, the leadership of the Bank of Azerbaijan has taken the decision to reduce currently exchange offices located in various places of Baku. First of all, this has been done in order to optimize the network. Currency exchange networks under the branches will continue its activities as usual.

The plans of the Bank of Azerbaijan are not limited only by optimizing the financial network and expanding the products line and scope of extended services. Bank of Azerbaijan intends to continue bringing joy to citizens by offering its products and extending a significant support of business structures and private individuals in the country.


It should be noted that the volume of fixed capital of Bank of Azerbaijan equals to AZN15 million while the level of overall bank assets exceeds AZN127 million. Currently, Bank of Azerbaijan is among 18 national banks which have the right to allocate mortgage.
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