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New chairman of Bank of Baku Supervisory Board appointed

19 March 2014 08:31 (UTC +04:00)

The Bank told APA-Economics that the meeting focused on a number of issues on the bank’s activity. As the authorities of several members of the Supervisory Board are expiring and the bank is enlarging, the issues on expanding the staff and reviewing the term of Supervisory Board members were discussed. Members and chairman of the Supervisory Board can be elected for a three year term and after the term expires the prolongation of the term is to be considered.

Under the unanimous decision passed at the general meeting of shareholders, Elmir Habibullayev was elected as a member and chairman of Bank of Baku Supervisory Board. The terms of the Supervisory Board members, the bank’s shareholder Elchin Isayev and authorized representative of the bank’s shareholder Ibrahim Mammadov were extended for three years. Elchin Isayev was appointed as senior advisor of the Supervisory Board chairman. Deputy chairman of Bank of Baku Management Board Eldar Hamidov was elected as a new member of the Supervisory Board.

Supervisory Board and Management Board held a joint meeting. The bank’s policy and achievements were highly appreciated, plans for 2014 discussed at the meeting.

Established in 1994, Bank of Baku is marking its 20th anniversary. Within this period the bank has made great achievements. Bank of Baku, which has brought a number of innovations to the retail market, is firm market position, strong finance and risk indicators, Moody’s has affirmed its rating at B1+.