OREANDA-NEWS. December 1, 2009. Amrahbank keeps on strategy of its branch network expansion.

The Bank reports that its next branch started operating at the address: 35, G. Seidzadeh, Nasimi district of Baku (4th microdistrict).

At the branch opening ceremony Amrahbank’s chairman of board Emil Mammadov emphasized: “Opening of our Bank’s new branch is a component of our branch network expansion strategy. We made a decision to create a new point for sales of our products precisely there after relevant research of the market condition and basing ourselves on maximum coverage of existing and potential customer base”.

He also pointed out that in parallel Amrahbank diversifies geographical location of its branch network. With this purpose the Bank changes location of its branches and conducts surveys in country’s regions. As a whole, in the near future the Bank plans opening of several branches in the capital and regions of Azerbaijan.

Newly-opened branch’s director Vugar Bagirov stressed that his branch would render full range of bank services at a higher quality level. Bank’s finance director Fazil Huseynov added, in his turn, that opening of the new branch under conditions of the global financial crisis was an indicator of Amrahbank’s financial sustainability.

Founded in 1993 Amrahbank is today one of the leading commercial banks of Azerbaijan (by 31st December 2008 it was in ranks of TOP 3 of domestic banks on profitability of own capital). It holds leading positions among the domestic banks on quantity of branches (23 ones).

Strategic partnership established after acquisition of 49% of Amrahbank’s shares by International Investment Bank of Bahrain plays an important role in positive changes in a whole range of areas of activities and life of the Bank, including such fields as corporate governance, international co-operation, a range and quality of bank products and services.