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Azerbaijani Zamin Bank to Open Subsidiary in Ukraine

Business Materials 7 June 2008 13:24 (UTC +04:00)

Ukraine, Kiev, 7 June / corr. Trend Z.Novosvitskiy / An Azerbaijani private Zamin Bank plans to open its subsidiary in Ukraine in 2009, Nadir Ismayilov, a chairman of the Supervisory Board of Zamin Bank, told journalists in Kiev.

According to Ismayilov, Zamin Bank intends to establish a new bank, but not to buy existing bank in Ukraine.

Moreover, Zamin Bank intends to open a representative office in Ukraine by the end of 2008. In the initial period the basic sphere of the bank's activity will cover money transfers between Azerbaijan and Ukraine. The money transfer amounted to $650mln between Ukraine and Azerbaijan in 2007.

Zamin Bank is the founder of the Caspian Money Transfer System.

The correspondent can be contacted at [email protected]

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