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Bank of Baku raises more than AZN 4 million a month through deposit campaign

04 December 2008 15:59 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Bank of Baku has raised more than AZN 4 million within the scope of a lottery deposit campaign â€œEarn for 15 Yearsâ€ launched on November 5.
The bank said the deposit promotion program allows 15 depositors to win the chance of earning AZN 100 a year, 5 deposits AZN 1 000 a year and 1 depositor AZN 10 000 a year (AZN 150 000 in total) over 15 years.
The total prize pool is AZN 247 500 and the interest rate ceiling on deposits is 21% per annum.
The deadline is February 10.
The draw will take place in a televised show on the bankâ€™s 15th anniversary, February 14.
As of October 1, Bank of Bakuâ€™s assets stood at AZN 185.149 million, deposit portfolio 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.
The bank currently operates 15 branches, 2 offices, 23 ATMs and 226 POS terminals.
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.