Azerbaijani bank to increase number of branches by half in 2011

Business Materials 13 January 2011 16:32

Azerbaijan, Baku, Jan. 13 / Trend N. Ismayilova /

Azerbaijani Parabank plans to open ten regional offices in 2011, the head of the treasury department of the bank Elnur Agayev said.

"This year the priority for the bank is to expand its branch network in the country. The bank's plans include opening ten regional offices," he said.

He said that new branches will be opened in the regions of the country.

Parabank was established in 1991 as a commercial bank. Being one of the first commercial banks in Azerbaijan, Parabank offers its clients universal financial services. Since July 2007, "Parabank" is a member of the Azerbaijani Deposit Insurance Fund.

The bank is represented in the following regions: 9 branches in Baku, Ganja - 2, Sumgait, Barda, Agjabedi, Beylagan, Guba and Shamkir - one branch. The bank's credit policy is oriented mainly to support small and medium-sized business.