Azerbaijan Industry Bank to expend its branch network

Azerbaijan Industry Bank to expend its branch network
# 11 November 2008 10:10 (UTC +04:00)
Baku. Elnur Huseynguluyev - APA-Economics. Azerbaijan Industry Bank plans to open two branches in Baku by the end of this year, said Hasan Badalov, Deputy Chairman of the Bank.
He added that the branches will be located in Metbuat Avenue and R.Behbudov Street.
According to him, the bank has applied to the central bank for a license.
At present the bank operates 5 branches across the country.
As of October 1, its assets stood at AZN 75.541 million, loan portfolio at AZN 33.671 million, deposit portfolio at AZN 31.731 million, total capital at AZN 17.730 million and authorized capital at AZN 12.8 million.
The bank was originally established as CIBank in 1996 and was renamed as Azerbaijan Industry Bank in late 2006.
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