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USAID assists Azerbaijani NBC Bank to develop new bank products

Business Materials 7 July 2009 14:42 (UTC +04:00)

Azerbaijan, Baku, July 7 / Trend N. Ismayilova /

As of July 1, assets of Azerbaijani NBC Bank hit 44.49 million manat by increasing 28.38 percent compared to 2008, the bank said on July 7.

Deposit portfolio increased 99.68 percent within report period and hit 13.43 million manat. As of June 1, joint capital of the bank hit 16.18 million manat.

"NBC Bank" OJSC and "Bankworld Inc" signed the memorandum on technical aid on September 19, 2008. USAID (the United States Agency for International Development) technical aid is rendered in several stages during a year within this program. It includes trainings for loan agents, rendering of consultations services in development of new bank standards of loaning, optimization of existing products and development of new ones.  

The bank has developed new product Deposit 007 under assistance of USAID. Current needs of clients were envisaged in this product.

Maximal rate of Deposit 007 product is 20.5 percent annually.

NBC Bank has correspondent relations with "ВТБ", "AkBank", "Raiffesien ZentralBank Osterreich", "Bank Turanalem", "HVB Bank", "İmpeksbank", "PrivatBank", "AIZKRAUKLES BANKA" and "BANK AUSTRIA CREDITANSALT".

NBC Bank is member of Deposit Insurance Fund.

The bank has branches in Baku, including Yasamal, Ganjlik, Sahil, Sabail, Number 1 regions. There is one branch of bank in Ganja and Sumgait.

On July 7, the official exchange rate is 0.8042 manat to $1. 

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