Regional bank in Azerbaijan attracts new shareholder

Business Materials 5 December 2011 20:59 (UTC +04:00)

Azerbaijan, Baku, Dec. 5 /Trend, N. Ismayilova/

Azerbaijani Ganja Bank, which is the first regional bank in the country, plans to attract a new shareholder in 2012, the bank told Trend on Monday.

"The bank is interested in attracting new shareholder, but it is not decided yet whether it will be local or foreign investor. Though, of course, we are interested in foreign investor," the bank said.

The bank intends to realize its plans on reorganization of Baku department into branch, as well as opening its own leasing company only after addressing issue regarding the new shareholder. Baku department of Ganja Bank is providing as money transfer and account services, but issuance of loans is not possible yet.

"The bank has plans to open two subsidiaries in Tovuz and Samukh," the bank said.

Today the bank has two subsidiaries - gas station Ganja Petrol and concrete producing enterprise Ganja Beton.
Ganja Bank has been operating since 1994. Its headquarters is located in Ganja.
The official exchange rate is 0.7865 manat to $1 on Dec.5.