Finance

Home page

Finance

Rabitabank to open a regional branch this

17 September 2008 10:35 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Rabitabank intends to open a provincial branch in Aghjabadi, said Elchin Gadimov, deputy Chairman of the Bank.
He added that application documents will be sent to the National Bank of Azerbaijan for a license in October.
â€œAccording to strategic plans, it is planned to open 3 branches in 2009. One branch will be established in Baku and others in regions of the country,â€ he added.
The bank operates 18 branches, including 12 provincial branches across the country.
As at July 1, the bankâ€™s assets stood at AZN 98.649 million, loan portfolio at AZN 73.431 million, deposit portfolio at AZN 82.373 million, total capital at AZN 11.838 million and authorized capital at AZN 8.003 million.
Owned by 6 individuals (96.4%) and 14 legal entities (3.6%), Rabitabank has been in operation since 1993.