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Royal Bank will soon open a branch

Royal Bank will soon open a branch

06 March 2009 09:26 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. Azerbaijan-based Royal Bank plans to open its branch in Sahil settlement of Garadagh District in April.
Zaur Ferzeliyev, the Chairman of the Bank, said paperwork has been submitted to the National Bank of Azerbaijan for a license.
Under its strategic plan, the bank intends to open 4 branches, mostly in regions this year.
At present it operates 28 branches across the country.
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.
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

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