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Royal Bank will soon open a branch

11 February 2009 13:40 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Royal Bank plans to open a branch in Sahil Settlement of Garadagh District.
The bank said necessary paperwork is being prepared at present.
â€œIn accordance with the strategic plan for this year, it is slated to open 4 branches, particularly in provinces. The board meeting will soon decide which regions the branches will be opened in,â€ said the bank.
As at January 1, Royal Bankâ€™s assets stood at AZN 101.926 million, loan portfolio at AZN 78.764, deposit portfolio at AZN 36.085million, total capital at AZN 17.853 million and authorized capital at AZN 16.912 million.
At present the bank operates 28 branches, 3 bureaux de change, 27 ATMs and 76 POS terminals across the country. Royal Bank (so named in 2008) was established by a U.S. citizen in 1993 as OZ Bank which was renamed as Royal Bank of Baku in 2003