Azerbaijan, Baku, Nov. 22 / Trend A. Taghiyeva /
Turkish Bank Asya has opened its first overseas branch in Erbil, Iraqi Kurdish autonomy, newspaper Sabah said on Thursday.
The capital of the branch is $7 million. The bank's branch expects will initially serve more than 6,000 customers.
Auto and mortgage loans are the priorities in the bank's credit activity.
According to the information, the bank has already concluded the agreements with Erbil's major companies on auto lending.
Bank Asya plans to expand its branch network in Iraq and plans to open the second branch in Baghdad.
Bank Asya was established in 1996 with a capital of 2 million lira. The bank has 250 branches in Turkey and works with 1,000 correspondent banks worldwide.