Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan Industry Bank plans to be members of Contact and MoneyGram money transfer companies.
Ramiz Aliyev, the marketing officer of the bank, said negotiations are under way and required documents will soon be submitted for membership.
At present the bank uses Western Union and Caspian Money Transfer.
The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.
As at July 1, assets stood at AZN 81.121 million, loan portfolio at AZN 47.819 million, deposit portfolio at AZN 47.853 million, total capital at AZN 19.265 million and authorized capital at AZN 12.8 million.
The bank operates 5 branches, 16 ATMs and 100 POS terminals across the country.
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