The opening ceremony of a Baku branch of the Pakistani National Bank (NPB) was held on Monday. The bank has had its representative office in the country
since 1996, but it was granted on June 30 2005 with a license by the Azerbaijani National Bank for branching out, Trend reports.
вЂњThe assets of the biggest Pakistani bank comprise $10bn,вЂќ Tahir Yagub, the chairman of the Control and Management Group over branches of the PNB, said.
He also noted that the regional center of the bank is located in Almaty and has 22 branches in 17 countries such as Kyrgyzstan, Uzbekistan, Turkmenistan, and Kazakhstan.
The first capitalization of the bank, which comes as 43rd in the country, is expected to comprise $5.2mn.