Azerbaijan’s Amrahbank launches another branch

Azerbaijan’s Amrahbank launches another branch

Baku, Azerbaijan, Sept.15

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The opening ceremony of Amrahbank JSC's Sahil branch, operating in the 1st housing estate 262 A, Badamdar, was held on September 11, 2014, a message from the bank said.

Meeting modern demands, the Sahil branch, which operates for improvement of quality of banking services provided to its clients and development of mutual potential cooperation with them, offers all banking services to both individual and corporative customers, including lending, opening of current and deposit accounts, express money transfers, transactions with Visa, Mastercard plastic cards, currency exchange, cash settlements and other services.

The opening ceremony was attended by the chairman of the bank's supervisory Board Yunis Ildirimzadeh, members of Board of Directors, heads of the organizational structures, directors of branches and special guests.

Delivering key speech at the ceremony, Yunis Ildirimzadeh welcomed the participants and spoke about Amrahbank's dynamic development, and latest successes and objectives.

It was stressed that Sahil is the 24th branch of Amrahbank. This is not only provision of banking services, but also a part of economic policy directed to improvement of welfare of thousands of Azerbaijani families, of which bank's employees are members and elimination of unemployment in the country.

"Amrahbank has an optimistic view of the future. We believe that positive development tendencies in our country will continue in the future too and sure that Amrahbank's development also will be permanent".

Speaking about Amrahbank's successes, Ildirimzadeh underscored that the bank's total capital has reached 55 million AZN since February in accordance with audit report prepared by PWC. Mentioning the issuance of loans by the bank, Ildirimzadeh said that this draws attention of international companies and therefore, Global Banking and Finance Review portal awarded Amrahbank with "Azerbaijan's most quickly developing bank for services on micro-small-medium entrepreneurship" in 2013.

http://www.globalbankingandfinance.com/global-banking-finance-review-awards-2014/.

Established in 1993, Amrahbank is one of the oldest and leading commercial banks of Azerbaijan. It offers a wide range of retail and corporate banking products and services such as opening of current and deposit accounts, plastic cards, clearing operations, consumer and business loans, local and international money transfers, documentary operations, trade finance, etc.

International Investment Bank based in Bahrain has been the strategic shareholder of Amrahbank since 2008(www.iib-bahrain.com).

Currently, 23 branches and one sub-branch of the bank are operating. The bank's branch network covers the capital and such regions of the country as Sumgait, Lankaran, Tovuz, Shamkir, Bilasuvar, Barda, Ganja, Goranboy and Masalli.

The official exchange rate on Sept.15 is 0.7843 AZN/USD.

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