Baku. Elnur Huseynguluyev – APA-Economics. Azerbaiajn’s NBCBank plans to launch a branch in Sumgait in january.
Yusif Abdullayev, deputy chairman of the bank, said documents have been submitted to the central bank or approval.
The National Bank of Azerbaijan is due to grant a license soon.
He noted that the bank plans to establish 4 new branches within the scope of its 2008-2010 strategic plan.
At present NBCBank operates 6 branches across the country.
As of October 1, the bank’s assets stood at AZN 37.414 million, loan portfolio at AZN 30.516 million, deposit portfolio at AZN 12.785 million, total capital at AZN 14.875 million and authorized capital at AZN 13.589 million.
Established in 1992, Ruzi Bank was renamed as NBCBank in 2002.
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