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VTB Bank (Azerbaijan) to introduce card products for those conducting trade with Russia

Business Materials 18 February 2015 16:42 (UTC +04:00)
VTB Bank (Azerbaijan) works on creation of special banking products for those who are associated with business in Russia or have relatives there

Baku, Azerbaijan, Feb.18

By Azad Hasanli - Trend:

VTB Bank (Azerbaijan) works on creation of special banking products for those who are associated with business in Russia or have relatives there, the chairman of the bank Yuri Yakovlev told reporters.

In particular, the matter rests in additional products on plastic cards, which will be convenient to use in both Azerbaijan and Russia, in Russian rubles as well.

In addition, the head of the bank said that in 2015 it is planned to introduce a system of internet banking.

"We have big plans for the creation of internet banking, which we hope to introduce this year," he said. "According to our strategy, ideas and the developments that we have already done, it has to be the most advanced internet banking in Azerbaijan, which will allow safe, effective and convenient work with accounts, make transfers, payments."

The system can be integrated with the Russian system of the bank, which will make it possible to implement payments not only in Azerbaijan, but also within the framework of structure of the bank VTB 24 and VTB Bank, according to Yakovlev.

"For us it is a challenge from both a technical point of view and the point of view of integration in the group system, but I think we will cope with it," he said. "It will be an interesting product that will be in demand, popular and interesting."

Bank VTB (Azerbaijan) OJSC is a subsidiary of VTB Bank OJSC. The shareholders of VTB Bank (Azerbaijan) are Bank VTB OJSC and AtaHolding OJSC.

Bank VTB (Azerbaijan) OJSC renders services to clients of corporate business, small business and private clients. Today the bank is represented by 13 branches and the Office of customer service at the head office.

The Bank is profitable since 2012 and break even since 2013. The bank's assets at the end of 2014 amounted to 288.9 million manat, deposit portfolio -16.02 million manat, including deposits of physical persons-11.4 million manat, the loan portfolio - 278.69 million manat.

Edited by CN

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Follow the author on Twitter: @AzadHasanli

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