Bank VTB (Azerbaijan) increases corporate customer base

Baku. 26 January. REPORT.AZ/ Number of corporate customers of Bank VTB (Azerbaijan) OJSC has been noticeably increased during 2016. Report informs, the Bank’s statement says.

According to information, Bank VTB (Azerbaijan) team involved more than 300 new corporate customers. Incomes from corporate business rose 10-fold, turnover from cash operations of legal entities – more than 6-fold during last year. Notably, Bank VTB (Azerbaijan) revised its 2016 strategy and decided to invigorate its activities in corporate business direction. Bank targets to become main partner-bank for companies engaged in Azerbaijan and Russian markets. The Bank actively supported transboundary operations of Azerbaijani companies in countries where it operates, utilizing advantages of international financial group.

Bank VTB (Azerbaijan) plan for transaction business includes 2-fold jump in 2017 and more than 5-fold grow until 2019.

“At present, the Bank carries out works to increase volume of transaction operations. It will be possible through realization of set strategic goals, as well as improvement of corporate business products, including introduction of joint products with banks of VTB group in various countries”, Bank VTB (Azerbaijan) board member, director of business development department Igor Okayev told.

Notably, Bank VTB (Azerbaijan) was founded in 2009 on the basis of AF Bank OJSC having operated since 2003. Its authorized stock capital is 50 815 AZN. 

Bank's shareholders are Bank VTB OJSC (Russia) – 51%, AtaHolding LC – 48.99%, Deputy Chairman of Observation Council of mentioned holding Ashraf Kamilov – 0.01%.