New Banks to be Opened in Azerbaijan

Business Materials 6 June 2007 20:12 (UTC +04:00)

Azerbaijan, Baku / corr. Trend I.Khalilova / The Chairman of the Executive Board of the National Bank of Azerbaijan (NBA), Rufat Aslanly, said on 6 June that the NBA received an appeal for obtaining a banking license to open a new bank - Pasa Bank.

"We have begun studying the documents and therefore, I can not say anything about the shareholders of the new bank," Aslanly said.

It is clear that Pasa Bank will be one more part of Pasa Holding which was created in 2007. The Holding already brings together Pasa Sigorta, Pasa Insaat and Pasa Travel.

Generally 44 banks function in Azerbaijan.