Azerbaijani bank denies closure rumors
Baku, Azerbaijan, Dec. 26
By Anvar Mammadov – Trend:
Azerbaijan’s AGBank OJSC currently continues its operations in a normal regime, said the bank in a message.
There are no financial, economic and legal reasons for the closure of AGBank, says the message.
The Bank pursues a more cautious credit policy, taking into account the existing risks on the financial market, said the statement.
Chairman of the bank’s Board of Directors Afgan Jalilov said that the bank will hold a number of innovative projects soon, according to the message.
“Currently, the bank’s staff consists of more than 700 employees. The number of the bank’s customers exceeds 320,000 people. Loans continue to be issued. The bank’s loan portfolio totals 56.3 million manats. The bank issued more than 1,800 mortgage loans so far, and 1,600 of them are currently active. AGBank issued mortgage loans worth 11.3 million manats under updated conditions. Currently, AGBank renders all banking services,” added Jalilov.
AGBank has been operating in Azerbaijan since 1992.