Azerbaijani bank expands urgent money transfer system outside Azerbaijan
Azerbaijan, Baku, August 1 / Trend N. Ismayilova /
The Azerbaijani Kapital Bank plans to expand its Khazri urgent money transfer system, Deputy Chairman Yashar Mammadov told Trend.
"The system has been used in Moscow since 2010," he said. "It is planned to be implemented abroad in the near future."
He said the system is popular due to its simplicity and low tariffs.
The system was established in 2007. It operates in more than 100 branch offices. It allows transferring money to all the regions in the country. The funds turnover amounted to 50 million manat in 2007-2010.
Talks have ended between Kapital Bank and the Russian Capital Loan bank to open service centers in Moscow.
Kapital Bank was fully owned by the state till summer 2008. At present, the main shareholder of Kapital Bank is Pasha Holding, which owns 97.75 percent stake.
Azerbaijani Kapital Bank's assets increased by 11.8 percent in Jan.-June 2011 and hit 874.4 million manat as of July 1. As of July 1, the total capital of the bank hit 71.88 million manat, the share capital - 30 million manat.
The official exchange rate is 0.7865 manat to $1.