Bank Standard to increase market share in consumer crediting

Business Materials 12 February 2009 17:18 (UTC +04:00)

Azerbaijan, Baku, Feb. 12 / Trend , N.Ismayilova /

The Bank Standard will increase its market share in the consumer crediting, First Deputy Chairman of Board of Standard Bank Javid Guliyev said.

"Bank plans to extend the spectrum of retail products and services, including deposit products, cash services, services on urgent money transfer, and various consumer credits," Guliyev added.

The market share of bank in the consumer crediting and attracting of deposits will be intensified. Bank's position in this sector is estimated at 5 to ten percent.

'The cooperation with several international urgent money transfer systems will be established," Guliyev added.

In 2008, the Bank Standard established the cooperation with four urgent money transfer systems.

Bank plans to further increase the authorized capital.

"For years the bank has increased its authorized capital and this tendency will also be continued this year. The size of the authorized capital will depend on bank's activity and number of new offered services," Guliyev added.

In 2009 the Bank Standard will pay a specific attention on raising the personnel work efficiency.

In 2008, bank's total assets were 619.1 million manat. Bank's total revenues hit 98.5 million manat. A total of 394.4 million manat were allocated by Bank Standard last year.

On Feb. 12 the official exchange rate is 0.8065 manat to $1. 

Do you have any feedback? Contact our journalist at: [email protected]