OREANDA-NEWS. January 14, 2010. World-known audit company PriceWaterHouseCoopers (PwC) finished the first audit of AFB Bank under international standards of financial accounting for three quarters  of 2009.

According to audit report, in September, 2009, AFB Bank acquired envisaged for sale sovereign bonds of Turkey.

Bonds in the amount of USD 12.078 million were envisaged for sale. Par  value of the bonds totals USD 1,000 and annual interest rate – 4.81%.

The bonds were sold on October 14, 2009, and as a result of this operation,  revenue of the bank made USD 220,000 or AZN 176,000 and was takeninto account in report of profit and losses.

AFB Bank (earlier Azfinanbank) was established on July 11, 2008, and received license of the Central Bank of Azerbaijan (CBA) for banking operations on November 28, 2008. Main shareholder of the bank is Gilan Holding with partnership share of 98%.