Azerbaijani bank to open representative office with one employee

This year, Yelo Bank OJSC plans to open the first representative offices with one employee and new branches, bank's CEO Anar Hasanov told Report.

"We are weighing the replacement of traditional bank branches. Usually, full-fledged branches are meant. That is, all services and products that are provided in the bank are also provided in branches. We want some products in them to differ depending on the district. We want to open branches without cash desks. Where online services are offered, the need for cash desks and cash is lower. We want to open representative offices with one employee. This employee will only direct the client," Hasanov said.

According to him, a full-fledged bank branch will be opened in the Salyan district shortly.

Hasanov added that at least five branches would be opened this year. Two of them will be full-fledged branches, and three will be representative offices.