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International Bank of Azerbaijan launches E-Deposit

27 November 2008 09:29 (UTC +04:00)

Baku. Elnur Huseynquluyev â€“ APA-Economics. International Bank of Azerbaijan has today announced the launch of e-Deposit, a remote deposit technology system that will allow its customers to make deposits with convenience
Te bank said this service allows cardholders to open direct deposit account through ATMs, Internet Banking System and information kiosks.
In order to join E-Deposit service, the customer is required to fill out a form and sign an agreement at a branch of the bank.
The â€œprincipalâ€ amount (at maturity) and accrued interests are transferred to the customerâ€™s card account and this allows the customer not to go to the bank.
E-Deposit can be made at a minimum limit of USD 100 and AZN 100 with current interest rates for three months to 5 years.
As Azerbaijanâ€™s and the regionâ€™s largest bank, the International Bank of Azerbaijan with a governmentâ€™s 50.2% stake is owned by the bank staff (10%) and private shareholders (40%).
As of October 1, assets stood at AZN 4 208.654 million, loan portfolio at AZN 2 631.728 million, deposit portfolio at AZN 2 367.476 million, total capital at AZN 328.794 million and authorized capital at AZN 130.078 million.