The assets of the Bank Respublika has increased by 16.5% since early 2008, the bank reported on 13 June.
From January to May 2008, the bank’s loan portfolio increased by 33% and made up AZN 211.9mln.
The deposit of customers have also increased by 18.9% and touched AZN132.5mln. The volume of deposits in Bank Respublika rose by 18.6% and reached AZN 62.1mln.
Bank Respublika’s joint capital increased by 44.4% and made up AZN 34.1mln from January to May 2008. The authorised capital of the bank totalled AZN 12.5mln as for 1 June 2008.
From January to May 2008, Bank Respublika totalled AZN 20.8mln and expenditure AZN 15.9mln. The bank’s balance income is estimated at AZN 4.9mln for this period.
[03.03.09]
International Investment Bank takes a 49% stake in Amrahbank
Azerbaijan-based Amrahbank has recently completed the sale of a 49% stake to International Investment Bank (IIB), a globally-focused Islamic investment bank based in Bahrain.
This is a key milestone achieved in Amrahbank’s growth plans as IIB will significantly contribute towards enhancing the Bank’s global reach and cooperation (especially with GCC countries), offer of new sophisticated Retail, Corporate and Investment banking products, customer services, IT, corporate governance, operational tools as well as introduction of fully fledged Islamic Banking as soon as necessary legislative basis is established in Azerbaijan. IIB will play a strategic role in jointly realising an active plan to re-brand Amrahbank, expand its retail network, train the existing staff, and impart new skills to the team.
On 14th June 2008, Shareholders’ General Meeting and Supervisory Board Meeting of Amrahbank took place at Hyatt Regency in Baku, whereby new board members, new short and long term strategy and necessary charter changes have been duly approved. New members of the Supervisory Board comprise Yunis Ildirimzade as a Chairman, Aabed Al Zeera (CEO, IIB) as a Vice Chairman, Mohammed Hadi Mejai (Director, IIB) as a member, Elnur Amikishiyev (Management Information Manager, BP Group) as a member and Kamal Mamedzade (Senior Associate, Salans) as a member. Amrahbank is experiencing a continuous and impressive growth of its key financial indicators. Accordingly, as at 1 July 2008, total equity of the Bank exceeded AZN 21 mln, total assets were AZN 63.5 mln, and net profit for the first half of 2008 was AZN 2.3 mln . In the near future, Amrahbank will establish cooperation with major banks of Western Europe and Middle East in such areas as project finance, trade finance, credit lines, etc. Established in 1993, Amrahbank JSC is one of the leading banks of Azerbaijan and is regarded one of the largest private Azerbaijani banks in terms of network branch, customer base, net profit, ROE and ROA. It is a state appointed agent bank for Azerbaijan Mortgage Fund, Azerbaijan Entrepreneurship Fund and is a member of Azerbaijani Deposit Insurance Fund and Azerbaijan Banks Association. Amrahbank offers its clients variety of retail and corporate banking services such as deposits, credits, money transfers, credit cards (Visa, Mastercard), utilities bill payments, etc. It currently has 29 offices/branches across Azerbaijan.
International Investment Bank B.S.C. (IIB) was incorporated in Bahrain as an investment bank. The Bank’s shareholders are high net worth individuals, business houses and major institutions from the GCC states. The Bank undertakes three core business activities - private equity, real estate and asset management - and aims to offer its clients an internationally diversified range of investments generated through its network of strategic partnerships. IIB has been involved in investments worth more than USD 2.2 billion. One of the core objectives of IIB in its Amrahbank investment is to build a platform for further large scale investments in Azerbaijan and CIS.
[03.03.09]
Azerfon LLC (Nar MobileTM ) presents the new service “Call Me Back”.
Now Nar Mobile subscribers with no funds in his/her balance may communicate.
The new service “Call Me Back” has been created in order to provide mobile communication to subscribers who have insufficient balance. To activate the service you need to dial the below-indicated code:
*767# (code of any GSM operator in Azerbaijan)( subscriber’s number)#YES
Example: *767#0707598302#YES
The dialled subscriber will receive SMS message with the request to call back. Any subscriber of Nar Mobile tariff plans may use this service. The new service “Call Me Back” can be used for sending call-back request to subscribers of Nar Mobile as well as to subscribers of other GSM operators of Azerbaijan.
t should be noted that uniqueness of “Call Me Back” service is that Nar Mobile subscribers may benefit from this service regardless of which operator’s subscriber s/he will request. Azerfon LLC continues to apply the advanced services with the purpose to provide the convenience and save the money of subscribers.
AZERFON was licensed № 001512 by the Ministry of Communications and Information Technologies of Azerbaijan Republic in December, 2005 to provide mobile services throughout the territory of Azerbaijan. AZERFON Company launched its commercial activities in 21st of March, 2007 under brand name Nar Mobile.
The trademark Nar was created as a symbol of the relationship between Azerbaijan’s rich cultural heritage and modern life. At the present, more than 500.000 subscribers use the network of Nar Mobile.
[03.03.09]
Placement of Bank Standard AZN20, 000,000-registered bonds concluded.
On July 25 of 2008, placement of interest-bearing unsecured registered book-entry bonds of “Bank Standard” CJSC CB with the state registration number AZ201000514 was carried out on Baku Stock Exchange.
The volume of the issue is AZN 20,000,000, the face value per bond AZN 1,000, annual interest rate on bonds 13%, and the turnover period 1080 days.
The bonds were completely placed at the auction.
[02.03.09]
Azercell Telecom signed international MMS roaming agreements with two more mobile operators
Azercell has put into operation international MMS roaming service with Vodafone mobile company of Spain and with Vodafone mobile company of Malta.
Azercell Telecom LLC continues increasing the number of international MMS roaming partners. This time Azercell has put into operation international MMS roaming service with Vodafone mobile company of Spain and with Vodafone mobile company of Malta. The company had put a first international MMS roaming service in Azerbaijan in April 2007 with aim of making Azercell subscribers to feel at home. At present Azercell provides MMS roaming service in 24 countries with 26 mobile communication operators.
Up today leading mobile communication operator of the country has concluded GPRS/MMS contracts with 126 operators from 62 countries. But possibilities of MMS service differ from GPRS/MMS service. A subscriber being abroad had an opportunity of making MMS exchange only with Azercell subscribers and using GPRS through the GPRS/MMS roaming service, which has been in use up to now. But International MMS roaming service offers a possibility to Azercell’s subscribers to exchange MMS not only within the network, but also with the subscribers of the operator, with which the contract has been signed.
For the first time in the country Azercell Telecom, which provides its subscribers various services for their convenience and follows its principle Azerbaijan and Azerbaijanis Deserve All The Best, put into operation such services of mobile communication as MMS, GPRS, EDGE and Simurq. Azercell Telecom will further make subscribers happy with the most modern achievements in the field of communication and IT.
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