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Royal Bank launches VISA Travel and Gift

26 February 2009 16:34 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Royal Bank has launched VISA Travel and Gift cards.
Farid Hasanov, the card business officer of the bank, said 50 000 VISA Travel and Gift cards will be initially issued but the number will be brought to 200 000 by the end of this year.
The cards are issued through Azericard Processing Center. The bank has 5 500 active plastic cards in circulation now.
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