Baku, Azerbaijan, Nov. 26
By Abbas Akhundov - Trend:
Azerbaijani Nikoil Bank plans to complete 2013 with a net profit of $2-2.5 million, chairman of the Vasily Khamaza Bank said at a press conference dedicated to the opening of a new main office.
According to Khamaza, currently the bank is completing the working out of a strategic development plan for the next five years.
"Due to the fact that the bank is moving away from the concept of being a universal bank towards the retail bank concept, we are paying great attention to the introduction of new technology, as well as the expansion of the branch network.
"We are focused on the regions which have good opportunities for the development of the retail business sector and plan to open another branch by the end of 2013," Khamaza said.
According to Khamaza, the bank planned the growth of a credit portfolio up to $225-230 million by the end of this year.
Shareholders of the Vahid Alakbarov Bank, Nikolai Tsvetkov and Iskandar Khalilov attended the opening ceremony of the main office.
According to Tsvetkov, the bank's shareholders will carry out a number of investments in technology and development of personnel in the future.
Today Nikoil Bank is a universal financial and credit organisation offering a full package of services, including settlement, credit, payment, card, warranty, interbank, documentary and other operations carried out in national and foreign currencies.
The controlling stake (56.38 per cent) of the bank is owned by Topaz Investments LLC., 28.74 per cent by NIKOIL JSC, 13.88 per cent by Uralsib-Invest LLC and one per cent by ISR Holding LLC.