Baku, Azerbaijan, Sept. 23
By Anvar Mammadov – Trend:
Azerbaijani Azmont Bank, operating in Montenegro, has been renamed to Nova Banka Podgorica JSC, Montenegro Stock Exchange said in a message.
The bank was founded by Azmont Investments and Azerbaijan Global Investments (AGI) and its registered capital is $13.4 million.
The bank’s board of directors is headed by Ahmet Erentok. The board also includes Rashad Aliyev, Rashad Rasullu, Gorkhmaz Agayev and Ana Ivanovic.
Ahmet Erentok is also the chairman of Azmont Investments Board of Directors and chairman of the AGI Supervisory Board.
Rashad Rasullu is the advisor to the chairman in Azmont Investments, while Rashad Aliyev is a member of Azmont Investments Board of Directors and the AGI Supervisory Board.
The shareholders of Azerbaijan Global Investments are PASHA Development, AtaHolding and Synergy Group.
AGI is the parent company of Azmont Investments.
Azmont Bank, from now on Nova Banka Podgorica, will begin the implementation of Portonovi complex construction project, one of the largest complexes in Montenegro to open in summer 2018 in Kumbor settlement on the shore of Kotor Bay.
The Trans Adriatic Pipeline (TAP) project is also one of the reasons for opening the bank.
TAP project envisages transportation of gas from the Stage 2 of development of Azerbaijan's Shah Deniz gas and condensate field to the EU.
A memorandum of understanding and cooperation has been already signed with the government of Montenegro as part of the TAP project.
Fifteen banks operate in Montenegro.
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