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YapiKredi Bank Azerbaijan opens new head office

22 September 2008 15:34 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. YakiKredi Bank Azerbaijanâ€™s (former KoÃ§Bank AzÉ™rbaycan) has today held an opening ceremony for its new head office at 32, Jabbarli Street, Baku.
Tayfun Bayazit, Chairman of Turkeyâ€™s YapiKredi Bank, said the bank intends to expand its activities and took a more important role in the banking sector.
â€œOur bank has been in operation in Azerbaijan for more than 10 years. At present the assets stood at $125 million. It provides services to 130 legal entities and 180 000 individuals. Our bank will take a more active role by expanding its coverage area,â€ he added.
YapiKredi Bank Azerbaijan, owned by Turkeyâ€™s YapiKredi Bank (80%) and International Finance Corporation (IFC) (20%), has been in operation since 2000.
As at July 1, its assets stood at AZN 82.973 million, loan portfolio at AZN 23.618 million, deposit portfolio at AZN 54.743 million, total capital at AZN 15.359 million and authorized share capital at AZN 6.349 million.

The bank operates 2 branches, 12 ATMs and 38 POS terminals.