Bank Of Baku

KredoBank to open 4 branches by this yearend

KredoBank to open 4 branches by this yearend
# 28 October 2008 09:05 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based KredoBank plans to open 4 more branches across the country by the end of this year.
Barateli Piriyev, Chairman of the Board, told APA-Economics that 2 of the branches will be in Baku (Bulbul Avenue and Bayil Settlement) and the rest in Berde and Imishli.
“We have applied to the National Bank of Azerbaijan for a license to open the Bayil Branch. We will soon submit documents. We will later apply to the central bank for provincial branches,” he added.
As of October 1, KredoBank’s assets stood at AZN 29.573 million, loan portfolio at AZN 21.312 million, deposit portfolio at AZN 6.679 million, total capital at AZN 14.648 million and authorized capital at AZN 13.040 million.
Owned by 11 individuals, KredoBank has been in operation since 1994. The bank operates 11 branches (5 in Baku and 6 in regions).
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THE OPERATION IS BEING PERFORMED