Bank Of Baku

YapiKredi Bank Azerbaijan to set up two subsidiaries next year

YapiKredi Bank Azerbaijan to set up two subsidiaries next year
# 23 September 2008 08:18 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. YakiKredi Bank Azerbaijan’s (former KoçBank Azərbaycan) plans to establish insurance and leasing companies in 2009.
Coskun Bulak, Chairman of the bank, said the subsidiaries will be named YapiKredi Sigorta Azerbaijan and YapiKredi Leasing Azerbaijan.
YapiKredi Bank Azerbaijan, owned by Turkey’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.
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