OREANDA-NEWS. October 13, 2009. Azerbaijani postal operator Azerpoct Ltd forecasts that more than half of its earnings will be received due to bank services.

Rovshan Rystamov, technical manager of project “System of postal & financial services and system of computerization of postal operations for Azerpoct”, says that Azerpoct is just coming in the market of bank services and it is difficult to define the share of this market to be held by Azerpoct.

“But already now it is possible to say that for the next two or three years Azerpoct plans to undertake 20-25% of the market of bank services. Azerbaijan is numbering 46 banks and about 500 bank branches, while quantity of postal offices exceeds 1,500,” he said.

Novruz Mammadov, the director of the postal office of the Ministry of Communications & Information Technologies, says that number of postal branches is 2-3 fold more the figure of bank offices and if in the capital competition with bank is going to be more difficult, in remote regions Azerpoct will simply have not rivals.

Currently financial services make up over 40% of Azerpoct’s earnings. After computerized corporate info system of Azerpoct operates fully, its income from financial and bank services will exceed 60%,” Mammadov said.