BANK OF BAKU JOINS TRAVELEX MONEY TRANSFER SYSTEM.
Bank of Baku Stock Commercial Bank set up delivery of Travelex rush money transfer services starting on 20 September 2005.
Travelex Group, one of the leading international operators in the retail financial services operators, functions in 4 continents with its over 650 branches on private clients services.
The Financial of bureau of Travelex can be seen in airports, railways stations and tourist centers of bog world cities. Over the last year Travelex served to more than 30 million clients.
Along with Travelex, Bank of Baku delivers similar services within Western Union and Migom rush money transfer systems.
As of 8 months of 2005 assets of Bank of Baku constituted 244.5bn manats. The amount of credit portfolio expanded to 154bn manats.
As of 1 September 2005 deposits of the bank made up 181bn manats. Net profits of the bank totaled 9.2bn manats over the first 8 months of 2005.