OREANDA-NEWS. April 24, 2009. Payments for utilities and other retail payments made through Azerdemiryolbank JSC in Q1, 2009 increased by AZN 1.28 million (31.7%) in Q1, 2009 against Q1, 2008, and exceeded AZN 5.33 million.

The bank's marketing department reported the fees paid for natural gas supply increased more than others (more than twofold). They made up AZN 192,800. The fees paid for electricity supply were AZN 754,600 and those paid for water supply were AZN 23,100. The customers paid AZN 89,700 for Bakcell, AZN 337,800 for Azercell and AZN 4,400 for Nar Mobile (mobile telecom services). Retail payments to the state budget were AZN 152,800 and other payments were AZN 3.74 million.

Azerdemiryol Bank is the first participant of the Centralized Information System on Mass Payment under the National Bank of Azerbaijan. To pay in this system, a subscriber will have to come to the bank with his identity card and open a special account to pay for the utilities.

The bank has 31 branches and sub-branches in Baku and the regions, which is one of the highest indexes for the local banks.

Being one of the first commercial banks of Azerbaijan, Azerdemiryol Bank was set up in 1989. Its shareholders include the European Bank for Reconstruction and Development and FMO.