Royal Bank to open a provincial branch in a few days

Royal Bank to open a provincial branch in a few days
# 16 December 2008 09:59 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. Azerbaijan-based Royal Bank will open a branch in Astara by the end of this year, bringing the number of its branches to 30 across the country, said Azer Shahmerdanov, Member of the Bank’s Supervisory Board.
According to him, the National Bank of Azerbaijan is due to approve the submitted documents.
He said the branch will provide all banking services to clients.
Royal Bank was established by a U.S. citizen in 1993 as OZ Bank which was renamed as Royal Bank of Baku in 2003 and as Royal Bank in 2008.
As of October 1, Royal Bank’s assets stood at AZN 100.473 million, loan portfolio at AZN 77.160, deposit portfolio at AZN 34.387 million, total capital at AZN 19.412 million and authorized capital at AZN 16.912 million.
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