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Azerbaijani Amrahbank expects up to $90M net profit by late 2014

Business Materials 23 October 2014 15:57 (UTC +04:00)
Goranboy branch of “Amrahbank” has started its activity at the S.Jivazade str. 37. For this purpose, the opening ceremony of the branch was held October 22, 2014.
Azerbaijani Amrahbank expects up to $90M net profit by late 2014

Baku, Azerbaijan, Oct. 23

Trend:

Goranboy branch of "Amrahbank" has started its activity at the S.Jivazade str. 37. For this purpose, the opening ceremony of the branch was held October 22, 2014.

According to the corporate image of "Amrahbank", Goranboy branch offers all types of banking services to both individual and corporate customers, including settlement operations, lending for all types of needs, opening of current and deposit accounts, local and international money remittances, documentary operations and other services, the bank said.

Delivering a keynote speech at the opening ceremony, acting chairman of the Management Board, Emil Hasanov greeted the participants. On behalf of the shareholders of the Bank, he expressed his gratitude to the local Executive Power for the created favourable conditions. He noted that the opening of this branch coincides with the recent visit of the president of our country to this region.

Opening Goranboy branch, which is the 23rd branch of Amrahbank can be considered our contribution to the projects on the social-economic development of regions. Amrahbank is one of the fastest growing banks. Our main goal is to present banking services to customers according to our today's potential and considering modern demands. In addition to the traditional banking services, our bank provides all-round support to our customers for the development of their business today.

E. Ismayilov, Deputy Mayor of Goranboy Executive Power, the heads of organizational units of Amrahbank, directors of branches, local entrepreneurs and heads of branches of other banks attended the event.

Established in 1993 Amrahbank is one of the oldest and leading commercial banks of Azerbaijan. It offers wide range of retail and corporate banking products and services such as opening of current and deposit accounts, plastic cards, clearing operations, consumer and business loans, local and international money transfers, documentary operations, trade finance, etc.

According to the results of nine months, the total equity of Amrahbank exceeded AZN 56 mln., net profit of the Bank was AZN 5 mln. respectively. The bank aims at target of net profit in the amount of AZN 7 mln. until the end of the year.

International Investment Bank based in Bahrain is the strategic shareholder of Amrahbank since 2008 (www.iib-bahrain.com).

Currently, 23 branches and 1 sub-branch of the bank are operating. The Bank's branch network covers the capital and regions of our country such as Sumgait, Lankaran, Tovuz, Shamkir, Bilasuvar, Barda, Ganja, Goranboy and Masalli.

The official exchange rate is 0.7843 AZN/USD Oct. 23.

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