Bank Of Baku

Azerbaijan’s Kredo Bank to open 5 branches this year

Azerbaijan’s Kredo Bank to open 5 branches this year
# 11 September 2008 14:05 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Kredo Bank intends to open 5 branches this year.
Baratali Piriyev, Chairman of the Bank, told APA-Economics that two branches will be established in Baku and three in provinces.
The provincial branches are likely to be opened in Khachmaz, Berde and Imishli. Branches in Baku will be established in Bulbul Avenue and Bayil Settlement.
Owned by 11 local individuals, Kredo bank has been in operation since 1994.
The bank operates 10 branches, including 5 in Baku.
As of July 1, the Bank’s assets stood at AZN 26.130 million, loan portfolio at AZN 19.357 million, deposit portfolio at AZN 4.017 million, total capital at AZN 14.351 million and authorized capital at AZN 12.640 million.
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