One more Azerbaijani bank changes name

Business Materials 18 March 2010 16:26 (UTC +04:00)

Azerbaijan, Baku, March 18 / Trend N.Ismayilova /  

The Azerbaijani Azerneqliyyat Bank changed its name to Express Bank, Bank's Board Chairman Emin Mammadov said.

"March 17, the Central Bank of Azerbaijan updated license of Azerneqliyyat Bank to carry out banking activities, the need for which emerged in connection with the change of the bank's name to Express bank," he added.

According to him, the name stipulates a rapid and high quality service, which the bank intends to provide to its customers. The bank also intends to compete with the country's leading banks at the retail services market.

"Recently, the bank has changed its founders and activities. We adopted a new strategy, under which the bank will develop and the bank's work will focus on bringing banking services to corporate business and retail services to the level of 50 to 50," he said.

Azerneqliyyat Bank was established in 1989 as a commercial bank by the various organizations of the Azerbaijani Road Transport Ministry. In 2005 the bank was transformed into an open joint stock company.

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