Azerbaijani bank to expand to the regions in 2012

Business Materials 5 January 2012 15:24 (UTC +04:00)

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

The Azerbaijani Texnika Bank intends to significantly expand its presence in the country's regions throughout 2012, Samir Guseynov, chairman of the bank's board, told Trend on Thursday.

The bank's major goal in 2012 is to expand its branch network and increase its divisions up to 42 by late 2012," Mr Guseynov said.

He said currently 35 branches and 22 divisions of the bank operate in the country. Texnika bank will open 20 more divisions in the regions in 2012 rendering a limited number of services.

"After the complete introduction of T24 software by the Swiss company Temenos, which is supposed to be completed in March 2012, our main goal is to ensure that our customers will be able to conduct transactions in all branches regardless of where they opened their account," he said.

Texnika Bank has been operating in the country since 1993 and was a wholly owned Azerbaijani bank prior to 2007. Currently, the bank's majority shareholder is World Wines with a 75 per cent shareholding. Chairman of the bank's Observation Board Etibar Aliyev and the US's Kazimir Investment Caspian Fund each hold 15 per cent and 10 per cent, stock respectively.

The official exchange rate is 0.7865 AZN/USD