Azerbaijan, Baku, June 2 / Trend N. Ismayilova /
Azerbaijani Azfinansbank completes construction of the first branch of the bank situated in Baku, board of banking supervision chairman Khayal Mammadkhanli said on June 2.
"Leadership of new branch has not been appointed yet. New branch will operate 24 hours per day seven days per week," Mammadkhanli said.
All banking services, including innovations for the country's banking market, such as E- EXCHANCE, will be rendered both in head office and in this branch. It will allow using exchange at any time. E-deposit boxes will be used to deposit valuables and money using credit cards at any time and automatically. Presently, businessmen face difficulties in using banking services when it is necessary because of jams, queues in banks.
Construction of two branches continues. One of them will be in Mardakan, other one in Gabala, Mammadkhanli said.
All three branches of the bank will be put into operation by September," Mammadkhanli said.
Leadership of the bank plans to construct other two branches by late 2009. The number of branches must reach five. Other 15 branches are planned to open by late 2010 upon the bank's plans. Total number of branches will be 20.
The Central Bank of Azerbaijan issued permission for Azfinansbank to conduct bank activity in November 2008. Azfinansbank became the second commercial bank by getting bank license in 2008. New bank was established with authorized capital in the amount of 10 million manat.
On June 2, the official exchange rate is 0.8035 manat to $1.
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