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Bank of Azerbaijan gets a new management composed of young professionals

14 January 2009 12:49 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Bank of Azerbaijan OJSC has shifted its management. According to the decision of shareholders, in the result of senior level reshuffle aimed at conducting radical reforms in transiting to corporate management system and bringing the Bank to the leader position in Azerbaijani financial market, Bank of Azerbaijan OJSC will be headed by Khayal Sharifzade, 32, with his team composed of young and experience professionals in banking sector.
Prior to his nomination to the post of Chairman of Board of Directors of the Bank of Azerbaijan OJSC, starting from 2007, Mr. Khayal Sharifzade has been working as Deputy Chairman of Board of Directors in this Bank. Since 2004, after having been graduated from the Azerbaijani State Economic University, he has led various departments in the Bank.
Vacant position of first Deputy of Chairman of Board of Directors of Bank of Azerbaijan OJSC is to be taken by Mr.Heydar Mirzoyev, former head of Private Customers Department of other bank. Besides him, following persons have been invited to senior positions: Mr.Kamran Heydarov, who held various senior positions in other commercial banks is nominated the Deputy Chairman of the Board of Directors of Bank of Azerbaijan OJSC for sales; Mr.Aslan Alibayli â€“ for business development; Mr.Parviz Abbasguliyev â€“ for financial issues; Mr.Kamran Isayev â€“ for business support.
The bank will mark the 15th anniversary this month.
As of October 1, Bank of Azerbaijanâ€™s assets stood at AZN 110.384 million, loan portfolio at AZN 90.122 million, deposit portfolio at AZN 42.503 million, total capital at AZN 20.684 million and authorized capital at AZN 14.635 million.
Owned by NEM Holding and two individuals, Bank of Azerbaijan has been in operatin since 1993. The bank operates 18 branches, 35 bureaux de change, 22 ATMs and 122 POS-terminals.