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$550 mln attracted from Russia to Azerbaijani banking sector

24 June 2014 13:06 (UTC +04:00)

Gabala. Agshin Rafigoglu - APA-Economics. Azerbaijan-based banks have attracted $550 mln from Russian banks so far, Director-General of the Central Bank of Azerbaijan Rashad Orujov said at the round table held within the 5^th Azerbaijan-Russia Interregional Forum in Gabala.

Orujov noted that $300 mln of these funds has been attracted to Bank VTB (Azerbaijan) and NIKOIL Bank, $250 mln to other banks.

Touching upon the cooperation between the two countries, Orujov said that Russia’s Bank VTB (Azerbaijan), NIKOIL Bank, including Rosselkhozbank (Russian agrarian bank) are operating in Azerbaijan.

Along with this, he drew attention to success of IBA-Moscow in Russia.

According to CBA official, the money transfers from Azerbaijan to Russia made $300 mln, while it was $ mln from Russia to Azerbaijan.

Azerbaijan’s banking sector is open for foreign capital. There are 22 banks with foreign capital in the country.