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Bank of Baku becomes VISA International principal

02 December 2008 15:26 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Bank of Baku has become a principal member of VISA International.
The bank said it has been granted a license for issuing VISA Electron, VISA Classic, VISA Gold cards and provide cards services.
Through this, the bank launched two new services - PIN-change and SMS Banking.
Bank of Baku has to date issued 17 000 VISA cards.
The bank has been a principal member of MasterCard International since 2006.
As of October 1, Bank of Bakuâ€™s assets stood at AZN 185.149 million, deposit at AZN 145.616 million, loan portfolio at AZN 153.773 million, total capital at AZN 25.521 million and authorized capital at AZN 6.8 million.
One of the first commercial banks in Azerbaijan, Bank of Baku was registered on 14 February, 1994 originally under the name of Tugay Bank. The key founder of BOB was the Turkish company Nab DÄ±ÅŸ Ticaret. On 10 February 1997, Bank of Bakuâ€™s name was changed to Bank of Baku and it was reregistered as a joint stock commercial bank in August 1997.

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