An official opening of the Sumgayit Branch of the Bank of Baku OJSC has been held. Chiefs of leading organizations and companies working in the city participated in the opening ceremony. Vagif Aliyev, Head of the Sumgayit City Executive Power participated in the event as well, Trend reports referring to a message spread by the Bank.
During the arrangement, issues on dynamic development of Sumgayit City, the activity of the Bank, as well as future perspectives of both parties were discussed.
The Bank Branch Office located in 20A, Z. Hajiyeva St., 6th Micro district (near Heydar Aliyev park) will offer its client a wide spectrum of different banking services and products, which meet all modern banking standards. The main aim of the new branch opening in the Sumgayit City is to increase efficiency of banking service, expand the Bank client base, as well as to create conveniences for the Bank clients who live in Sumgayit city.
Until the end of 2006, within the Bank's development strategy in the regions, Bank of Baku is going to open one more branch. The Bank has 9 branches (including the new, above-mentioned one), 2 express-points "Bank of Baku - ExСЂress", as well as one bank office.
Till November 1, 2006, the joint authorized capital of Bank of Baku has reached 12.69 mln. AZN, with its paid authorized fund - 6.80 mln. AZN.