Bank Of Baku

Azerbaijan gets 65% rise in documentary operations

Azerbaijan gets 65% rise in documentary operations
# 07 October 2010 08:07 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of September 1, 2010, Azerbaijan-based banks’ total volume of documentary operation stood at AZN 394.3 mln, up 65.3% compared with a year ago.

Documentary operation is an order of one bank to other bank or banks to implement of customers’ payments. In this case, customer’s bank operates as a guarantor of customers.

Note that as of September 1, 2010, share of documentary operations in total loan portfolio made 4.5%.
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THE OPERATION IS BEING PERFORMED