Turkish Ziraat Bank’s subsidiary officially starts working in Azerbaijan
Baku, Azerbaijan, July 29
By Azad Hasanli - Trend:
Turkish Ziraat Bank's branch has officially begun its activity in Azerbaijan, the bank told Trend.
"The bank was not officially opened," the bank said. "But we have started serving customers since the middle of this month."
T.C. Ziraat Bankasi received in late 2014 a license from the Central Bank of Azerbaijan to conduct banking activities in Azerbaijan through its subsidiary, the Ziraat Bank Azerbaijan.
Ziraat Bank Azerbaijan's authorized capital is 50 million manat.
T.C. Ziraat Bankasi has been operating since 1863, and is the largest bank in Turkey.
Outside of Turkey the T.C. Ziraat Bankasi is currently present in Germany, Bosnia and Herzegovina, Russia, Kazakhstan, Turkmenistan and Uzbekistan.
The bank also has offices in the UK, the US, Bulgaria, Georgia, Iraq, North Cyprus, Greece, Saudi Arabia and Iran.
TCZiraat Bankası has been operating on the banking market of Azerbaijan since 1995 as one of the founders of Azer-Turk Bank. Currently, the Turkish bank owns 12.37 percent. Its subsidiary Ziraat Bank International AG owns 1.08 percent in this joint bank.
The official exchange rate is 1.0488 AZN/USD July 29.